DOE holds investment forum in Cebu

MANILA, Philippines – The Department of Energy (DOE) has brought its Energy Investment Forum in Cebu City, the first time the event was held outside Metro Manila.

Energy Secretary Angelo Reyes said they see the need to focus on the power situation in the Visayas area.

“While the forum presented various energy investment opportunities in the Visayas region, the DOE has placed great importance in fortifying its energy requirements,” Reyes said.

Reyes said the Visayas Energy Investment Forum was an offshoot of the Energy Month in December and was the first of its kind in the Visayas region.  

The forum will be the first leg of a series of investment fora outside Manila aimed at drawing greater private participation in the energy sector.

“The investment climate in the Philippines is very positive. With the Renewable Energy Act of 2008 and the signing of its implementing rules and regulations (IRR), it is proof positive that renewable energy is here and we are determined that it will stay,” Reyes said.

The event was participated in by other resource speakers who offered their expertise in the Philippine energy scenario. Melinda L. Ocampo, acting president of the Philippine Electricity Market Corp. (PEMC), provided updates on the Visayas Supply Augmentation Auction Program, while other individuals from various government offices and private corporations also offered their insights on energy investments in the Philippines, more specifically in the Visayas region.