2023 March 31
President Ferdinand R. Marcos Jr. on Friday assured investors in the energy sector that his administration remains committed to extending all the support mechanisms to ensure a genuine partnership in a mutually beneficial relationship.
“We will improve the policy and regulatory framework for the renewable energy (RE) industry, especially for the ESS technology, to encourage the further development of our fledgling renewables industry,” President Marcos said during the inauguration of the San Miguel Corp.’s Battery Energy Storage System (BESS) in Limay, Bataan.
The President said the Department of Energy (DOE) is currently working on an improved and expanded version of the ESS policy.
The current legislation and rules have to catch up with the technology, the chief executive said.
While the government is a little bit behind with the private sector in this regard, the President said his administration will try to address that balance.
“We are also aiming to increase the share of renewables in our total generation mix and we encourage those investments that will add to the renewable supply in our country,” President Marcos pointed out.
“We will streamline and harmonize the regulatory framework, at the national and local levels, to ensure ease of doing business, to take down unnecessary regulatory burdens, and this is all part of our agenda to improve bureaucratic efficiency and sound fiscal management for a much better, more streamlined, more efficient system,” the President explained.
These are all aimed at further encouraging and incentivizing the private sector and at the same time allow them to get reasonable returns on their investments, the President said.
The chief executive said his administration will continue partnering with the San Miguel Corp., noting the company’s other BESS projects in the pipeline, which account for 95 percent of BOI-approved projects, with 2,000 MW total capacity distributed across the country.
The President sees BESS to certainly form a very important part of the government formula in solving its energy security problems because it is promising, novel, and innovative.
“This technology is carving a distinct path towards a more energy-secure and sustainable future for the country. It is clean, it is zero-emission, zero-water extraction, no noise pollution,” President Marcos said.
“Given the increasing generation of renewable energy, it is vital then that we advance and incorporate Energy Storage Systems, or ESS, in our overall energy infrastructure,” the President stressed.
It also promises great rewards for the country, the President said, not only in generating sufficient, reliable and clean energy, leading to more affordability of energy, but also in creating “green jobs” for the people.
With the commercial operations of approximately 1,000 MW of BESS facilities across 32 locations in the Philippines, San Miguel Global Power now ushers a new era for the Philippine energy industry.