Philippines seeks German investments in energy

MANILA, Philippines — The Philippines will seek more foreign investments and technologies in the energy sector as it prepares to send a business delegation to an international tradeshow in Germany next month.

Trade Undersecretary Nora Terrado said the Department of Trade and Industry is gathering some 15 Philippine companies to represent the country in the upcoming Hannover Messe 2018.

Aside from renewable energy, Terrado said the country would seek to secure investments in energy efficiency and transmission.

“Through this synergy among stakeholders, we will be able to seal partnerships with foreign investors and mobilize much needed funding and infrastructure to our energy players,” she said.

“It will also give motivation to our local energy stakeholders to fast-track efforts towards the mainstream use of renewable energy sources in the Philippines as more and more countries have started their industrial shift towards more sustainable power sources,” the trade official said.

The DTI said business matching meetings between Philippine renewable energy companies to potential investors, technology adapters, developers, suppliers and other local energy stakeholders are expected to take place during the international tradeshow.

Hannover Messe, which will be held in Hannover, Germany from April 23 to 27, is one of the world’s largest trade fairs.  It covers the industrial value adding chain under one roof, namely energy, integrated automation, motion and drivers, industrial supply, research and technology, and digital factory.

With the theme “Solutions for the New Era of Energy,” the energy sector of Hannover Messe 2018 will focus on innovative technologies for electric power systems to become more flexible, to intelligently connect sectors, and to engage new market participants amid an increasingly decentralized global energy chain.

“As a global gathering of key industry players, Hannover Messe is the prime platform to drumbeat and build up investor confidence on the Philippines as a global powerhouse of renewable energy and other relevant technologies,” Terrado said.

“We are elevating trade and investment promotion to a whole new level as we tap our partners for inclusive growth from the energy sector in a collective participation in this world’s most important industrial tradeshow and the largest capital goods exhibition in Germany,” she added.

According to DTI, renewable energy has been identified in the country’s Investment Priority Plan 2017-2019 as an emerging sector that needs government intervention, particularly in export promotion.