The United Kingdom government has launched its flagship program Partnering for Accelerated Climate Transitions (UK PACT) in the Philippines, with an initial £700,000 or PHP54 million funding to help the country advance its shift to clean energy.
UK PACT’s Philippine portfolio will directly support the government and industries in building capacities, tools and policies to de-risk investment and advance scalable renewable energy (RE) solutions in the country.
“This launch marks the next step in the UK-Philippines climate collaboration. UK PACT will continue into the next financial year, enabling us to build on the progress achieved so far and to identify new areas of cooperation with you,” British Ambassador to the Philippines Sarah Hulton OBE said.
Through the partnership, the UK will provide support to the Philippines through expertise, financing and advocacy.
In its initial year, UK PACT will focus on four key interventions, including updating the pricing model for offshore wind (OSW) projects for the Green Energy Auction Program in the Philippines.
The other three will concentrate on developing a tool for electric power system cost simulation, advancing national marine spatial planning, building from OSW use cases, and accelerating micro-grid deployment by supporting data collection for unserved and underserved areas.
“Our partnership shows that we do not need to choose between energy security and environmental protection. We can and must achieve both,” Department of Environment and Natural Resources (DENR) Secretary Raphael Lotilla said.
The UK Embassy in Manila said this year’s focus aligns with the Philippines’ commitment to reduce and avoid greenhouse gas emissions by 75 percent, and target to have 35 percent of RE share in the power generation mix by 2030 and 50 percent by 2040.
The program has an indicative funding of £ 1.2 million to £ 1.4 million (about PHP93 million to PHP108 million) for the next fiscal year, with an eye on developing the carbon market.
Representatives from the Department of Energy, Energy Regulatory Commission, and DENR, alongside other key agencies, welcomed the initiative, noting its potential to catalyze change in the country’s energy landscape. (PNA)
