SINGAPORE — The Asian Development Bank (ADB) confirmed it is in discussions with the Philippine government for a possible loan to enhance the country’s power transmission network.
Priyantha Wijayatunga, ADB’s senior director for energy, said on the sidelines of the Singapore International Energy Week that the bank could extend financing worth up to “billions of dollars” for the project.
He noted, however, that the Philippine government is still determining how to proceed since the National Grid Corporation of the Philippines (NGCP) — a private firm — currently operates the state-owned grid.
“There is a request for ADB support, but we need to work out how to channel it because it’s not a government-owned grid,” Wijayatunga explained, adding that the assistance could be structured through both sovereign and non-sovereign financing.
He said the plan remains in the pipeline with no fixed timeline yet, as contractual discussions between the government and NGCP may still be required.
The initiative aligns with the Philippines’ efforts to modernize its transmission system amid growing interest in offshore wind energy. The Department of Energy (DOE) has identified an offshore wind potential of over 178,000 megawatts (MW), with 92 service contracts already awarded representing more than 65,000 MW in capacity.
As of July 2025, the country’s installed on-grid wind capacity stands at 427 MW — all from onshore projects — accounting for about 1.3 percent of the national power mix.
