Staff Reporter

The wind facility will be built offshore in Ilocos Norte.

This will connect an offshore wind project to the electricity grid.

The country is also implementing efforts to boost its nuclear energy expertise.

The 85 MW solar facility is being jointly developed with local energy partners.

The projects will be delivered until 2029.

Meanwhile, authorities are coordinating self-regulation pacts with producers to avoid a race to the bottom on prices.

While the shift to renewables accelerates, Rystad noted that oil and gas will remain resilient in the near term.

The company has strengthened grid reliability through zero forced outages and exemplary environmental performance since commencing commercial operations.

Global renewable energy capacity will almost double to 8.5 terawatts by 2030. 

Funding decreased to $11.2b.

They aim to commence operations of the ocean thermal energy project by 2031.

Availability rates of IPPs improved during the period.

It has partnered with ACEN for this investment.

Venture capital funding also increased in the same period.

The company now accounts for 37% in One Meralco Group’s total net earnings.

The connection agreements will be signed in the coming days.