USAID Hopes to Bolster Green Energy in the PH with ₱1.6 Billion Project Launch

Through the US Agency for International Development (USAID), the United States recently announced the launch of its five-year Energy Secure Philippines (ESP) amounting to ₱1.6 billion in an effort to promote green energy in the country.

The project aims to bolster key sectors in the energy industry and aid the Philippines in achieving its climate mitigation targets.

“Through the Energy Secure Philippines Project, the US will work with Philippine government and private sector partners to improve the performance and efficiency of energy utilities, deploy renewable energy systems, enhance competition in the power sector, and address energy sector cybersecurity,” said USAID.

Additionally, ₱36 billion has also been reserved for the private sector. The funds will be allocated for the investment and development of approximately 500 megawatts of clean energy generation capacity in the country.

“We look forward to building and sustaining new partnerships with diverse stakeholders across the energy sector whose collective efforts are required for a more competitive and advanced energy sector,” expressed US Chargé d’Affaires John Law.

A grant facility called the “Energy Evolution Challenge” is also in the works. This is primarily geared to provide funding for proposals aimed at advancing research and deployment of innovative energy systems.

In February of this year, the US and the Philippines also entered into a five-year bilateral assistance agreement amounting to ₱7.25 billion in order to effectively protect the country’s environment.

Source: ABS CBN