EMBASSY OF THE REPUBLIC
OF THE PHILIPPINES


SEOUL REPUBLIC OF KOREA

news

PH DEPARTMENT OF ENERGY CONDUCTS SUCCESSFUL INVESTMENT MISSION TO ROK


: DOE Undersecretary Felix William B. Fuentebella delivering a presentation entitled "Looking Ahead: The Philippine Energy Plan 2040" during the "Korea-Asia Energy Cooperation Seminar" held on 6 July 2017 at the Plaza Hotel in Seoul.

The Philippines' Department of Energy (DOE) under the helm of Secretary Alfonso Cusi was represented by Undersecretary Felix William R. Fuentebella at the "Korea-Asia Energy Cooperation Seminar" that was held on 6 July 2017 at the Plaza Hotel in Seoul.

Undersecretary Fuentebella announced to Asian energy sector players and government officials that the Philippines was open to foreign investments in energy projects noting that the Philippines would require 43,765 megawatts (MW) of additional electricity capacity by 2040, representing a three-fold increase in the Philippines' demand for energy. Undersecretary Fuentebella declared that "to address this need, the Philippines would need 70% base load power plants, 20% medium range power plants and 10% peak load power plants."

During his presentation, Undersecretary Fuentebella expounded on the energy policies and thrusts of the administration of President Rodrigo Duterte by providing a comprehensive overview of the Philippines' primary energy mix, energy demand and supply outlooks from ?2016-2040 as well as strategic directions from 2017-2040 and the DOE's Nine-Point Energy Agenda.

The DOE Undersecretary also briefed the audience on promising investment prospects in the Philippine energy sector. He cited the demand for new power plants in areas identified by the DOE in Luzon, Visayas and Mindanao. Major energy projects were also highlighted in the presentation, such as the Integrated LNG Terminal and Visayas-Mindanao Interconnection Project along with their corresponding costs and projected timelines for completion.

To highlight the Philippines as an attractive destination for energy investors, Undersecretary Fuentebella announced that President Duterte recently signed Executive Order No. 30 giving priority status to energy projects. Under E.O. 30, an Energy Investment Coordinating Council was created to streamline regulatory procedures affecting energy projects of national significance. The EO also reduced to 30 days the processing time for applications for energy-related undertakings and projects.

In the open forum, Undersecretary Fuentebella said that the Philippine government is open to looking at micro-grids to augment the energy supply given the country's archipelagic location and that the DOE would soon release guidelines pertaining to the Green Energy Option.
Following the DOE's presentation during the seminar, several Korean companies expressed avid interest in exploring energy investment opportunities in the Philippines.

Other News


July 15, 2025
THE NIGHTINGALES PERFORM AT PH INDEPENDENCE DAY RECEPTION AND CONDUCT VOCAL WORKSHOP IN SEOUL

Seoul, 07 July 2025 - The internationally acclaimed soprano duo The Nightingales captivated guests with a stellar performance during the National Day Reception in celebration of the 127th Anniversary of the Proclamation of Philippine Independence and 76 Years of Philippines-Korea Relations at the Grand Ballroom of the Four Seasons Hotel in Seoul on 23 June 2025.

Read More
July 07, 2025
PHILIPPINES CALLS FOR STRONGER EAST ASIA-LATIN AMERICA BI-REGIONAL COOPERATION

SEOUL, 11-12 JUNE 2025 —The 15th FEALAC Cyber Secretariat Workshop and related Meetings, under the theme “FEALAC's Vision for Reinvigorating Cooperation between East Asia and Latin America,” was successfully held from 11-12 June 2025 in Seoul, Korea.

Read More
July 07, 2025
PHILIPPINE EMBASSY IN SEOUL JOINS FINANCIAL LITERACY SESSION ON RETAIL TREASURY BONDS FOR OFWS

Seoul, 06 July 2025 – The Philippine Embassy in Seoul participated in the Online Financial Literacy Session on Retail Treasury Bonds (RTBs) organized by the Philippine Government through the Bureau of the Treasury. The event aimed to educate overseas Filipinos on the benefits of investing in government securities as a secure and impactful way to grow their savings. Along with Chargé d’Affaires a.i. Edwin Gil Mendoza, members of the Filipino Community in Korea joined the session. 

Read More