By Francis Allan L. Angelo
The Philippines is significantly scaling up its clean energy capacity with two of the largest pumped storage hydroelectric power projects in the country—and among the largest in Asia—thanks to the green lane endorsement from the Department of Trade and Industry (DTI).
These projects, driven by Prime Infrastructure Inc., are a testament to the country’s steadfast march towards sustainable energy solutions.
Trade Secretary Alfredo E. Pascual awarded the Certificates of Endorsement to Mr. Enrique K. Razon Jr., Chairman of Prime Infrastructure, for two hydro projects that are crucial to the nation’s clean energy shift. The 1400MW Pakil and 600MW Wawa projects, developed by Ahunan Power Inc. and Olympia Violago Water & Power, Inc. respectively, both subsidiaries of Prime Infrastructure, are set to receive streamlined services to expedite their completion.
Highlighting the government’s commitment, Secretary Pascual pointed out, “The DTI remains steadfast in our ongoing efforts toward secure, sustainable, and resilient energy strategies to fuel our nation’s growing economic development.”
With an investment of USD 5.03 billion, the Pakil project is set to become one of the largest pumped storage power plants in Asia. By 2030, it is expected to supply 10 to 12 hours of power daily to approximately 2 million households, thus playing a significant role in the Philippines’ energy transformation.
Equally important is the Wawa Pumped Storage Power Project in Rizal, with its 6,000MWh/day storage capacity. Representing an investment of over USD 2.57 billion, it is scheduled to contribute to the nation’s power grid by 2030, enhancing energy supply and storage for 35 years, until 2064.
These pumped storage projects are designed to manage the influx of renewable energy, storing excess capacity when available, and releasing it as needed, thus acting as a buffer for grid stability.
The green lane endorsement, part of Executive Order 18 aimed at easing investment processes, will expedite the execution of these strategic initiatives. Mr. Razon praised this support, highlighting the critical role of such projects in the government’s energy transition plans.
Finance Secretary Ralph G. Recto underscored the government’s support for these innovative and sustainable projects, emphasizing the DOF’s role in creating a conducive environment for their success.
These projects align with President Ferdinand R. Marcos Jr.’s significant reforms under Executive Order 18, which seeks to simplify investment processes in various strategic industries, including clean energy.
With the BOI-OSACSI acting as the single entry point for strategic investments, these hydroelectric projects are anticipated to commence smoothly, signifying a leap forward for the Philippines in smart and sustainable energy production.
