Government sets renewable energy investment mission

MANILA, Philippines - The Philippines and the United Kingdom are organizing a renewable energy (RE) investment mission to London in September this year.

In a press statement, the British Embassy said various offices of the UK government will team up with Merritt Partners, owned and operated by former Energy Secretary Vincent S. Perez, in organizing the Renewable Energy and Carbon Market Business Mission.

This initiative, it said, is specifically in support of the Philippines’ efforts to promote its RE resources.

This move is also envisioned to forge strong partnerships between UK and Philippine companies engaged in RE and carbon market-related businesses.

The mission also hopes to gather significant RE and CDM project proponents from the Philippines and UK to create and establish business relationships between and among mission participants.

It is being supported by UK Trade and Investment (UKTI) and the UK Climate Change Projects Office (CCPO).

Merritt Partners, a boutique energy advisory firm, was chosen by the British Embassy as its partner for this mission due to its extensive business network in the Philippines and abroad.

Merritt is also giving strong support and has active involvement in the promotion of energy investments in the Philippines.

Perez said he hopes the business mission will generate significant investments that would contribute to the Philippine government’s goal of attaining energy independence.

UK Ambassador Peter Beckingham, who had tirelessly worked towards the strengthening of trade relations between the UK and the Philippines, was at the forefront of this initiative.

“The passage of the Philippines’ Renewable Energy Act has opened a new door for strengthening trade relations between the Philippines and the UK. The Philippines offers vast opportunities for investments. The UK, on the other hand, has the technical expertise and the needed capital to firm up the investments,” Beckingham said.

The diplomat said this early, the business mission is attracting significant interest in the UK.