Philippines President Orders Augmentation of Renewable Energy Portfolio, an Industrial Info Market Brief

The president of the Philippines, Rodrigo Roa Duterte, ordered the Department of Energy to augment its renewable energy portfolio by mitigating the country's dependency on coal. Further coal plant investments may possibly cause stranded assets and the loss of value due to the growth of renewable energy development in the region. The desire for an alternative source of energy was publicized in the recent 2019 State of the Nation Address in which the president points out that renewable energy is the better way to allocate electricity to the majority of Filipino households. Energy Secretary Alfonso Cusi gave his guarantee that a proclamation will be implemented in securing reliable energy supply through healthy competition, as well as the protection of the general public and the environment.