Renewable energy
ADMITTEDLY, many foreign businessmen are reluctant to invest in the Philippines, an impoverised but natural resources-rich Southeast Asian nation of more than 110 million people.
Various quarters attributed this reluctance to the high cost of electricity in the country, which is trying to attract foreign investors as part of efforts to meet the employment needs of Filipinos.
Thus, it is certainly heartening to know that the administration of President Marcos is pursuing measures and policies aimed at ensuring the availability of cheap and reliable energy.
This the government, through concerned state offices and agencies, will do by promoting and utilizing renewable energy (RE) sources, such as wind and solar power.
In a yearend report, the Department of Energy (DOE) listed its major plans for 2023, including updating the so-called Philippine Energy Plan and pursuing contigency meassures.
These measures and other activities are designed to ensure enough energy supplies even during critical periods.
In his first state-of-the-nation address (SONA), President Marcos said energy will be a key sector in his administration’s push for economic growth and increased employment.
The young Chief Executive from Ilocos Norte, the only son and namesake of the late President Ferdinand E. Marcos, said the country is searching for new sources of energy.
Marcos said this is being done while the government is improving the mix of the energy supply between traditional and renewable energy sources.
At the same time, the highly-articulate Ilocano President believed that it’s also high time to reexamine the country’s strategy towards building nuclear power plants in the Philippines.
Likewise, he was quick to emphasize the need to comply with the International Atomic Energy Agency (IAEA) regulations for nuclear power plants.
Doubtless, the Marcos government is on the right track in looking for new renewable energy sources as part of its efforts to attract more foreign investors.
