President Ferdinand R. Marcos Jr. on Wednesday called on the private sector to partner with the government in providing affordable, reliable, and clean energy, as he vowed to improve bureaucratic processes in the energy sector to attract investors.
“I call once again on our private sector partners to join us as we realize our goal of advancing affordable, reliable, and clean energy for the benefit of our people,” President Marcos said during the inauguration of the 24.9 megawatt (MW) Lake Mainit Hydro Power Plant in Jabonga, Agusan del Norte.
“We assure you that this government will continue to improve bureaucratic processes in the energy sector to make it easier for investors to come in.”
This lies at the very core of the administration’s Eight-Point Socioeconomic Agenda as well as its commitment to mitigate the impact of climate change and combat other environmental threats.
“Let this inauguration that we are commemorating today serve as an encouragement to potential investors to invest in the country, especially in the power generation and the renewable energy sector,” Marcos said calling on the local government of Agusan del Norte to provide all the necessary assistance to ensure the efficiency, safety, and productivity of the hydropower plant.
Marcos expressed gratitude to the Markham Resources Corp. and the J-POWER Group for their partnership to develop and operate the Agusan del Norte hydroelectric power project, as he looks forward to greater cooperation between the Philippines and Japan on renewable energy.
The Lake Mainit hydroelectric run-of-river power project offers several benefits and is expected to sustainably serve around 45,000 households.
Aside from producing power, it is also expected to generate socioeconomic opportunities for the people of Agusan del Norte and the rest of Mindanao.
Moreover, the project is also expected to help reduce carbon footprint and improve air quality as hydroelectric power produces very low or zero carbon emissions during electricity generation.
The hydro power plant is also seen to transform the energy landscape within the region by providing 100,871 megawatt hours of clean affordable energy to local communities each year.
The power plant endeavors to deliver reliable and accessible electricity to the consumers of Agusan del Norte Electric Cooperative Inc. (ANECO) and support ever-growing demand from both residential and commercial sectors in the CARAGA region. | PND