Philippines

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Overview

On 13 December 2021, the OECD launched its new Clean Energy Finance and Investment Mobilisation Programme to support the Philippines’ efforts to accelerate finance and investment in clean energy. To do that, the OECD, in collaboration with the Department of Energy (DoE) and other government institutions, is developing a Clean Energy Finance and Investment Roadmap of the Philippines, which brings together government and private sector stakeholders together to agree upon a clear action plan that identifies and addresses bottlenecks complicating or constraining finance and investment in the Philippines.

Following a successful first workshop held on 31 May-01 June 2022 under the Roadmap project (see details here), the OECD and DOE jointly organised a second workshop which brought together key public and private sector stakeholders to identify challenges and opportunities to scale up finance and investment for clean energy in the Philippines. In particular, it aimed to identify concrete actions and key milestones over the near to medium term to accelerate finance and investment offshore wind and energy efficiency in public buildings. These will serve as input to the Roadmap.

Discussions were held over two days in hybrid format under Chatham House rules, with Day 1 focusing on offshore wind and Day 2 focusing on energy efficiency in public buildings (see Programme). Participants joining in-person and online were polled on key thematic questions.

Programme

Day 1 Accelerating investment for renewables: the case of offshore wind

Welcome address: Michael O. Sinocruz, OIC-Director, Department of Energy (DOE)

Scene-setting/Introductory presentation by the OECD

• Cecilia Tam & Chetna Hareesh Kumar, Clean Energy Finance & Investment Mobilisation team, OECD: “Roadmap workshop II” 
  
  

Roundtable 1: Near-term policy actions to accelerate investment in renewable energy

• Ruby de Guzman, OIC Assistant Director, DOE: “National Renewable Energy Program (NREP) 2020-2040 and sector updates” 
• Jayson G. Corpuz, Chief Energy Regulation Officer, Renewable Energy Division, Market Operations Service, Energy Regulatory Commission (ERC): “Key regulatory developments to support the NREP” 
• Gian Karla Canales Gutierrez, Philippine Independent Producers Association (PIPPA): “Role of the private sector in unlocking renewable energy investments” 
  
  

Roundtable 2: Creating an enabling environment for OSW: development zones and infrastructure investments

• Maria Ayuso Olmedo, Lead on offshore wind engagement in the Philippines, World Bank: “Offshore wind roadmap for the Philippines” 
• H.E. Franz-Michael Skjold Mellbin, Ambassador, Royal Danish Embassy: “Lesson learned from Danish offshore wind experience” 
• Michael Baylosis, Transmission Planning Manager, National Grid Corporation of the Philippines: “Philippines' transmission infrastructure development plans to support RE, particulary OSW” 
  
  

Roundtable 3: Attracting capital for OSW - project developer risks and policy incentives

• Theo Sunico, Director, Triconti ECC Renewables Corporation: “OSW ambitions in the Philippines and what it will take to build the first few GW”
• Kevin Banister, Global Director of Business Development, Simply Blue: “International developers's perspective on key actions to accelerate OSW development in the Philippines”
• Andrew Ho, Head, Government & Regulatory Affairs, New Markets, Ørsted: “Experience with revenue support mechanisms across markets and managing transitions from subsidy regime”
  
  

Roundtable 4: Attracting capital for OSW - bankability and financing models

• Jo Ann Eala, Vice President, Bank of the Philippine Islands: “Philippine banking sector perspective on key actions to accelerate OSW finance”
• Reinier A. Llige, Director, Head of Debt Products, BPI Capital: “Funding towards a sustainable future”
• Juan Martin L. Syquia, Deputy Chief Finance Officer, ACEN Corporation: “Raising finance for OSW through clean energy transition financing structure”
• Timothy Meaney, Head of Philippines, Vietnam & Cambodia, UK Export Finance: “Role of export credit facilities in addressing risks and bankability of OSW projects”
• Jonas Millqvist, Co-Head for Origination Asia, Danmarks Eksport Kredit: “Role of export credit facilities in addressing risks and bankability of OSW projects”
  
  

Wrap-up discussion and closing remarks

• Cecilia Tam, Team Lead, OECD CEFIM
  
  

Day 2 Harnessing the public sector's energy efficiency potential

Welcome address: Patrick T. Aquino, CESO III, Director, Department of Energy (DOE)

Scene-setting/Introductory presentation by the OECD

Roundtable 5: Business models and policies to support energy efficiency in public buildings

• Deano Christian Echague, Department of Budget and Management, Region 5: “Overcoming challenges in the procurement and financing of EE services”
  
• Artemio P. Habitan, OIC-Director: “Overview of the ESCO market in the Philippines
  
• Alexander Ablaza, CEO, Climargy and Founding Convenor & Co-chair, Asia-Pacific ESCO Industry Alliance: “Public financial mechanisms that enhance the viability of ESCO projects”
• Shri Abhishek Gupta, General Manager & Head, Internationals, EESL, India: “Introduction to India's public super ESCO model”
• Pedro L. Lite Jr., Executive Vice President, Philippine National Oil Company: “Energy efficiency and conservation program for local government units”
  
  

Roundtable 6: Financing options for energy efficiency in public buildings

• Niel Adrian S. Cabiles, Assistant Secretary, Department of Finance (DOF): “Identify areas where international support is particularly needed (capacity building, financing)”
• Marc M. Martinez, DOE-EUMB: “Overview of the Government Energy Management Plan (OGEP)”
• Arnold Onrubia, EEC Officer, Provincial Government of Albay: “Albay energy efficiency and conservation program”
  
  

Roundtable 7: De-risking and international support

• Yoshiko de Villa, Program Management Officer, Energy Transition Partnership: “A roadmap for energy efficiency financing in the Philippines”
• Reno Joseph N. Cantre, Director, Project Development and Monitoring Facility (PDMF) Service, PPP Centre: “Challenges in the procurement and financing of EE services and solutions to overcome those”
  
  

Wrap-up discussion and closing remarks

• Chetna Hareesh Kumar, Policy Analyst, OECD CEFIM
• Michael O. Sinocruz, OIC-Director, Department of Energy (DOE)