Albay receives P84-B in investment pledges

By Sally A. Altea

LEGAZPI CITY --- The province of Albay, initiating partnerships with local and international investors to become a major player in the Philippines’ transition toward clean, affordable, and sustainable energy, has secured P84 billion in financial commitments for 1,250 megawatts (MW) of renewable energy projects.

“We have secured P84 billion in investments for renewable energy in Albay, with backing from various corporations from countries such as the UK, Germany, and China,” said Albay Governor Edcel Greco Lagman.

Lagman emphasized that the energy projects will offer a lasting solution to the high electricity costs and frequent power interruptions in the province.

“By setting up solar and wind farms, we can guarantee lower electricity prices in the province,” he stated.

“Our government is ready to ensure that there will be employment opportunities alongside the private sector-driven investment in renewable energy. We don’t need to source out public funds,” the governor added.

Arnold Onrubia, officer-in-charge of the Provincial Planning and Development Office (PPDO), has outlined a roadmap for renewable energy development, identifying coastal and upland areas as optimal sites for harnessing wind and solar power for households and businesses.

“Solar energy is best suited for coastal areas in Albay, while wind energy is ideal for upland locations. We plan to further study areas where solar and wind can complement each other,” Onrubia explained.

Lloyd Cameron, economic and climate counselor at the UK Embassy in the Philippines, backed Albay’s priority projects, particularly offshore wind collaborations.

“We are interested in bringing UK firms and expertise to support these initiatives. We want to understand Albay’s priority projects and how we can engage as partners,” Cameron remarked.

Notable solar energy commitments for Albay include AltEnergy Corp.’s 200MW solar farm in Pio Duran and Mantex Services’ 20MW project in San Miguel, Tabaco City.

Wind energy investments also include a 100MW project by SPIC China Corp. in Albay Gulf and a 60MW initiative by Power Energy Corp. in Pio Duran. (PIA5/Albay)