Cagayan De Oro Group Pushes For Full Urban Poor Law Enforcement

Ang grupo sa Cagayan de Oro ay humihiling sa lokal na gobyerno na ganap na ipatupad ang batas para sa kapakanan ng mga urban poor.

Antique Farmers Get Department Of Agriculture Farm Machinery

Pinadali ng Department of Agriculture ang buhay ng mga magsasaka sa Antique sa pamamagitan ng pagbibigay ng makinarya. Inaasahang tataas ang kanilang ani.

Ilocos Norte Police Bloodletting Activity Yields 39 Bags

Ilocos Norte Police nag-organisa ng bloodletting event na nagbigay ng 39 bags ng dugo para sa mga pasyenteng nangangailangan ng tulong sa kanilang mga karamdaman.

PCO’s Ruiz To Lensmen: Inspire Action Vs. Climate Change

Sa isang panawagan, si PCO Secretary Jay Ruiz ay humiling sa mga photojournalist na magsagawa ng hakbang laban sa climate change at itampok ang kahinaan ng bansa.

PH Bags USD50 Million Renewables Investments From PBBM’s Malaysia Trip

The Philippines secures $50 million for renewable energy projects, aims for 35% renewable sources by 2030.


PH Bags USD50 Million Renewables Investments From PBBM’s Malaysia Trip

3
3

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

The country bagged USD50-million worth of funding for renewable energy (RE) projects during the state visit of President Ferdinand R. Marcos Jr. to Malaysia this week.

In a statement Sunday, Philippine-based private equity investor New Wave Strategic Holdings, Inc. and its partner, Emissary Capital Partners Sdn Bhd, said their investments here could generate additional 1,000 megawatts (MW) of RE capacity for the country.

Emissary Capital is a Malaysian investment firm with funds backed by the government.

The USD50-million fund aims to finance companies investing in the Philippines in the RE sector, electric vehicle industry, as well as clean energy and smart grid.

“New Wave and Emissary Capital have identified the early stages of renewable energy projects as the most challenging for companies to raise capital due to the perceived risks,” they said.

The companies said initial projects supported by the funding include solar and wind farms in northern Luzon.

“It is important that the Philippines develops a more mature eco-system with capital providers across various stages of the investment cycle. With Emissary’s entry into the Philippines, we are providing more founders and entrepreneurs access to growth capital as well as a regional network that can help them expand across SEA (Southeast Asia),” New Wave director Enrique Gonzalez said.

The parties added the available funding for the RE sector will help the government achieve its goal of 35 percent RE sources in the energy mix by 2030 and up to 50 percent by 2040.

In 2022, RE accounted for 22.8 percent of the country’s energy mix.

Emissary Capital partner Erman Akinci said the Philippines presents the “most exciting” RE market in the region for the next five to 10 years since the government allowed 100 percent foreign ownership in RE projects last year.

“Clean energy is both a local and regional commitment amongst ASEAN neighbors. We believe cross-border investment and trade will ultimately benefit the entire region and help ASEAN meet its collective goals. We hope our fund can contribute to this goal as well as generate healthy returns,” Akinci said.

Prior to this partnership, the two investment firms tied up to launch a USD50 million fund for tech startups in ASEAN member states.

Earlier, Malacañang said Marcos received USD285 million worth of investment pledges during his July 25 to 27 official trip to Kuala Lumpur. (PNA)