Public-Private Partnerships Key to Solving Power Shortages — APEC

Lapu-Lapu City (PNA) — Public-private partnerships will be a key element in solving problems on power outages in the country, as well as in financing the construction of sources of alternative energy.

During a press briefing held here Monday on the margins of the Asia-Pacific Economic Cooperation (APEC) Energy Ministers’ Meeting, Energy Undersecretary Loreta Ayson said public-private partnerships will not only provide financing but also technology information and training.

Ayson pointed out earlier that under the Energy Act of 2008, incentives are given to private companies that will help build energy projects and sources of renewable energy.

So far, she said, the Department of Energy (DOE) has approved 682 projects to increase energy reliability in the country.

Chair of the APEC Energy Working Group, Dr. Phyllis Yoshida, meanwhile noted that although the APEC does not provide financing, it can somehow provide assistance in tapping investors to pour in the necessary funds for energy-related projects.

Yoshida added that the APEC is more involved in promoting energy trade and investments, while it is under public and private partnerships that energy projects are created.

“We will work on PPPs to invest in projects. Investments coming from the Asian Development Bank or other banks can be tapped,” she pointed out.

Yoshida added that the APEC is also helping member economies, such as the Philippines, to train their workforce on energy projects, looking into the best practices being done by other economies that can be adopted by fellow APEC members.

Ayson said the APEC will come up with policies that will subscribe to certain specifications, tools and other cases to allow the entry of investments. (PNA) RMA/PND/EDS