The Department of Energy (DOE) is strengthening its engagement with the financial sector to help accelerate renewable energy investments and support the country’s shift to cleaner and more sustainable power sources.
In a statement, the DOE said Undersecretary Rowena Cristina L. Guevara recently met with the board of directors of the Philippine National Bank, led by Independent Chairman Edgar A. Cua, to discuss developments in the renewable energy sector and possible areas of collaboration.
The briefing focused on the changing renewable energy landscape in the Philippines and the growing role of banks and other financial institutions in financing clean energy projects and sustainable infrastructure.
The DOE said the discussions also covered industry developments, emerging investment trends and the need to align financing strategies with the country’s long-term energy goals.
The agency emphasized that stronger partnerships with financial institutions are crucial in creating a more favorable investment environment for renewable energy projects.
Through closer collaboration with the banking sector, the DOE aims to encourage more private sector participation in clean energy development and help build a more secure, resilient and sustainable energy system.
The initiative forms part of the department’s broader efforts to mobilize investments and strengthen support mechanisms for the country’s energy transition.