German firms expected to invest in Phl renewable energy sector

MANILA, Philippines - A number of German-based power firms are expected to invest in the local renewable energy industry, German embassy commercial attache to the Philippines Christof Wegner said over the weekend.

Wegner said more than 10 German private power companies are already into power business in the country.

Wegner said they expect this number to increase substantially as more and more companies have expressed interests to enter into the business of RE development.

“A lot of German companies have expressed interest, Southeast Asia as a whole is quite in the focus or interest of our renewable energy companies. They have projects in Thailand and Malaysia already - and they’re critically looking towards other countries like the Philippines and Indonesia. In terms of renewable energy, most German companies are export-oriented,” he said.

Wegner said some of the German companies are already in various stages of business ventures in the Philippines. “They are implementing projects or supplying Filipino companies who require equipment to realize their plans and there are project developments. Some are also bidding for power projects - so they’re active over the entire scope of economic activities,” he said.

On the controversies being encountered by RE, Wegner said this is just a normal process as a new system is being introduced.

He pointed out that if the Philippine would want to get involved in green energy development, it should start now as this takes a long process to develop.

“The Philippines turned towards renewable energy. At this point, things should move forward. From our experience, the decision to go into renewable energy is always a controversial one. And there’s so many issues that need to be threshed out,” he said.