11th Visayas Energy Investment Forum Held in Cebu

The Department of Energy (DOE) through its Investment Promotion Office (IPO) brought to Cebu the 11th Visayas Energy Investment Forum (VEIF).

The forum updated the stakeholders and potential investors on the latest development in the energy investment opportunities in the Visayas. The event also enabled the government and business sector representatives to meet prospect providers and partners.

In a press statement, DOE Secretary Alfonso G. Cusi said, “Given the fast-paced economic development in the region, we at the energy sector must keep up with the demand.”

DOE together with the National Grid Corporation of the Philippines (NGCP), asserted that the energy supply in Cebu is still capable to carry the energy demand, despite its continuously booming population.

“With the recent passage of the EVOSS (Energy Virtual One-Stop Shop) Act, which aims to cut back on lengthy government processes and generate more energy investments in the country, we are very optimistic that investors will appreciate the great potential our sector has to offer,” Cusi added.

Energy Undersecretary Felix Fuentebella said the government must make sure to fasttrack the permitting processes for energy investments.

Renewable Energy (RE) Management Bureau Chief Mylene Capongcol added that there is a need for lawmakers to make new policies and strategies to increase RE investment in the country, especially in the Visayas where there are areas with “rich geothermal share”, specifically in Leyte and Negros.

Capongcol shared how RE has helped a lot in the Visayas, through DOE’s various electrification programs.

She added that when more RE investments will come into Visayas, the region will not only attain energy sustainability but it may as well share more energy supply to the whole country. (Jan Karla Madrio/PIA7)