Aquino urges energy sector to invest in renewable energy

By , on October 1, 2014


President Benigno S. Aquino III delivers his speech at the Ninoy Aquino International Airport in Manila, Thursday (September 25) upon arrival from his successful working visits to Spain, Belgium, France, Germany, and the United States. (Photo by Benhur Arcayan Malacañang Photo Bureau)
President Benigno S. Aquino III delivers his speech at the Ninoy Aquino International Airport in Manila, Thursday (September 25) upon arrival from his successful working visits to Spain, Belgium, France, Germany, and the United States. (Photo by Benhur Arcayan Malacañang Photo Bureau)

MANILA – President Aquino yesterday urged the energy sector to invest more in renewable energy in a bid to ensure adequate power supply that would not harm the environment.

“It is of absolute importance that we continue exploring and investing in clean and renewable energy sources,” Aquino said in his speech at Energy Smart Philippines 2014.

The event was organized by the European Chamber of Commerce in the Philippines and the World Bank’s International Finance Corporation.

Aquino also added that his recent call for the granting of his emergency powers for the contraction of additional power generators is purely meant to address the upcoming power shortage, summer next year.

“As we pursue such projects, we remain fully aware of our obligations to future generations of Filipinos. This is why, despite our status as a developing country, despite the need to industrialize further and despite our historically low carbon emissions, we are still doing everything in our power to maintain and improve our low-emission development strategy,” he added.

Aquino also urged investors to consider the long-term effects of their ventures adding that the government is maintaining its goal to rely on power that is “preferably clean” and “reasonably priced.”

“I spoke of our country’s experience with the new normal caused by climate change, about how countries like ours, despite being less industrialized, bear a disproportionate amount of the burden. I emphasized the necessity of unity: how we must end the era of debating each country’s individual obligations, and instead embark on a concerted global effort to address the issue, with each of us doing everything we can,” Aquino said.

He added that the government remains true to its commitment in upholding the National Renewable Energy Program.

The said program has a goal of adding a total of 9,931 megawatts of renewable energy-based capacity by 2030.