According to a report by the Phlistar on April 8, think tank Fitch expects the Philippines to accelerate the process of decarbonizing the power sector to match the shift in energy policy, thereby stimulating investor interest and investment in the renewable energy sector. Data from the Fitch Infrastructure Critical Projects database shows a notable increase in large-scale solar projects in the Philippines this year, including projects worth more than $30 million. Fitch said the growth in investor interest in the renewable energy sector was largely driven by an improved regulatory environment for the sector. In the latest draft of the National Renewable Energy Plan (2040), the Department of Energy has set a new target to achieve 35% of the electricity mix by 2030, and increase the proportion to 50% by 2040. The Philippines has now joined the Asian Development Bank’s Energy Transition Mechanism (ETM) project, which aims to acquire existing coal-fired power plants across Asia and decommission them by the end of their operating cycles. Nonetheless, Fitch still expects coal power generation in the Philippines to dominate, accounting for 61% of the power mix by 2031.
This news reminds me of a news about the development of a large green energy project in Oman: Cranes help with solar power plant construction
Dongqi Crane has a very good customer base in the Philippines. In the past year, more than 100 customers have initiated requests for crane quotations from us. Completed more than 20 crane cooperation projects. Therefore, Dongqi Crane has a high degree of attention to the news of various industrial industries in the Philippines. In response to the Philippines’ policy on renewable energy, Dongqi Crane can provide green, low-carbon and environmentally friendly crane equipment. In the design of new cranes, the concept of low-carbon and environmental protection is fully introduced to realize intelligent, low-carbon and digital transformation and upgrading of production. Extensive use of energy-saving facilities and solar (000591) lighting to realize the reuse of waste heat from power facilities and rainwater recovery; around energy-saving management, build an online monitoring system for energy management, and accurately measure the energy consumption of workshops or processing centers by process and production line. Realize matching monitoring and analysis of output, labor, electricity, gas, welding wire and other elements.
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