ADELAIDE, AUSTRALIA–During the meeting with Southern Infrastructure Pty Ltd. and Kaizen ANZ Pty Ltd., an Australian-based development and construction Company, delivering complex infrastructure projects for government and the private sector, both in Australia and internationally on 09 October 2023, Department of Trade and Industry (DTI) Secretary Fred Pascual reported the Philippines’ potential in terms of renewable energy (RE) investments. He cited the Philippines’ policies on foreign ownership for RE projects, which were recently relaxed to promote the sector. This is also in an active effort to reach the country’s target of at least 35% share of renewable energy (RE) in the power generation mix by 2030 and a further 50% by 2040.Thank you for reading this post, don't forget to subscribe!
The trade and industry chief underscored that the Philippines is looking into alternative renewable sources of power such as hydrogen and nuclear while also exploring further studies to establish relevant policies and sustainable practices. In the meeting, they discussed a potential project in developing, building, and operating an initial 40 MW Thorium fueled simple – high – temperature gas-cooled reactor – STGR20 (V) to deliver a safe, sustainable and green (CO2=0) base load energy at the lowest kWh rate in the market (US$0.03.8 kWh).
The Southern Infrastructure Pty Ltd and Kaizen ANZ Pty Ltd. expressed its interest to enter into a Public-Private-Partnership (PPP) agreement with the Philippine government to build and deliver the project. Further, the system will also be able to produce Green Hydrogen for transport, desalinated water as a by-product and gamma radiation as a by-product to allow long term storage of food products. The project will start by mid-2024 and finish construction by 2027 and is expected to generate at least 1,000 local jobs during its construction and operation. END.