MEDIA CENTRE

Closing Remarks by Lavan Thiru, Executive Director, Infrastructure Asia at the PPP Center Workshop on 14 September 2022

Infrastructure Asia is pleased to partner with the Public-Private Partnership Center of the Philippines, Department of Energy from the Philippines and the Asian Development Bank to roll out an Online Capacity Building Activity on Renewable Energy and Energy Efficiency PPP projects.

Director Feroisa Francisca T. Condordia.

Distinguished Speakers,

Ladies and Gentlemen,

Introduction

1. Good afternoon everyone. I trust you have had fruitful and insightful sessions over the past two days.

2. Infrastructure Asia is pleased to partner the PPP Center, Department of Energy and Asian Development Bank to organise this Online Capacity Building Activity on Renewable Energy and Energy Efficiency PPP projects.

3. I am heartened by the large turnout from the implementing agencies and local government units. This signals a strong commitment to advancing sustainable renewable energy and energy efficiency infrastructure to meet the Philippines’ clean energy targets.

Energy decarbonisation is critical for Asia’s next phase of growth

4. Today, energy-related emissions account for two-thirds of global greenhouse gas emissions¹. This calls for a concerted international effort to pursue energy decarbonisation, to achieve the Paris Agreement goal of limiting global warning to 1.5 degrees Celsius².

5. Renewable energy and energy efficiency can work in synergy to drive global energy decarbonisation. When pursued together, they can moderate energy demand growth and improve energy cost efficiencies. The International Renewable Energy Agency refers to them as the dynamic duo³ which helps us deal with the energy trilemma (security, sustainability & affordability) that we are all too familiar with.

6. Much emphasis has been placed on growing renewable energy, but improving energy efficiency is an opportunity that is often overlooked. Improved efficiency can reduce total energy demand, thus allowing the share of renewables in the energy mix to grow sustainably. As of 2021, 22% of power in the Philippines is generated by renewables⁴. To meet the Philippines’ target of expanding the share of renewables in the generation mix to 35% by 2030, and 50% by 2040⁵, it is critical that we adopt energy efficiency measures.

7. There is great potential to pursue public-private partnerships (PPPs) to encourage private-sector investment in renewable energy and energy efficiency projects. Under the right conditions, we can leverage the abundance of private capital and technical expertise ready to be deployed into bankable projects.

Introducing Infrastructure Asia’s key initiatives

8. Growing Infrastructure Course

a. We look forward to building on today’s workshop to further develop competencies in preparing PPP projects. One way we do so is through Growing Infrastructure Course, a capacity building programme developed by InfraAsia, World Bank Group and Singapore Management University for senior and mid-level regional government officials.

b. Government officials like yourselves play an important role in creating an enabling regulatory environment for PPPs and private sector involvement in infrastructure projects, and to raise awareness of technological and financial solutions from Singapore-based companies. We are happy that to-date, 47 officials from Philippines have attended this program, including 10 who attended in-person last week.

c. The next run of the course will focus on Clean Energy and we would like to invite all of you to apply for it. It will take place in Singapore in the first quarter of 2023. Once the registrations open early next year, we will inform you through the PPP Center.

9. InfraAsia Project Portal

a. We also understand that some of you are working on renewable energy and energy efficiency projects in your local government units. InfraAsia is committed to facilitating best-fit solutions from the infrastructure ecosystem to meet your project needs, including from the speakers today.

b. Earlier this year, InfraAsia launched our Project Portal, which serves as a marketplace to showcase regional infrastructure opportunities and bridge partnerships between public and private partners to discuss, invest and develop infrastructure projects in the region.

c. We have worked with PPP Center to profile some of the projects they are working on, and would be pleased to partner all of you to profile your projects across all sectors.

d. Please reach out to the InfraAsia team for a conversation on showcasing your projects on the portal. Before I end, let’s watch a short video that demonstrates the function of the portal.

10. I would like to thank the PPP Centre again for the strong partnership and I look forward to working with all of you to scale up sustainable renewable energy and energy efficiency infrastructure. Thank you.