The Department of Energy (DOE) said that South Korea’s Korea Electric Power Co. (Kepco) has reaffirmed its commitment to continue investing in the Philippines, particularly in the renewable energy (RE) sector. The declaration follows a courtesy meeting Thursday between DOE secretary Raphael Lotilla and Kepco president Kim Dong-Cheol.
Kepco’s move is significant as the company continues its transition from coal to renewable energy, in line with its global carbon neutrality targets and the planned phaseout of coal by 2050. In 2023, Kepco had announced the sale of its coal assets in the Philippines, signaling a strategic pivot towards greener energy solutions.
Kepco operates a 200-megawatt coal-fired power plant in Naga City, Cebu in joint venture with SPC Power. Additionally, the company holds a 38 percent stake in Solar Philippines Calatagan Corp., which manages a 63.3 MW solar farm in Batangas. The emphasis on RE underscores Kepco’s commitment to sustainability.
The meeting also highlighted shared priorities between the Philippines and South Korea in advancing RE, nuclear energy, and smart grid technologies. Kepco president Kim Dong-Cheol shared insights into South Korea’s stable power grid system, which has significantly reduced transmission and distribution losses, as well as power outages, through the use of Intelligent Digital Power management systems. This AI-driven approach optimizes grid operations and boosts efficiency.
Secretary Lotilla expressed his support for Kepco’s efforts, emphasizing that such partnerships are crucial for the Philippines’ energy transition. “We welcome Kepco’s continued commitment to the Philippine energy sector, particularly in advancing RE, smart grid technology, and nuclear energy cooperation,” said Lotilla. “Their expertise in intelligent digital power management will enhance the efficiency and reliability of our own power grid and support our transition to a more sustainable, resilient, and technology-driven energy future.”
As the Philippines accelerates its transition to cleaner energy, collaborations with global leaders like Kepco are expected to play a vital role in shaping the country’s energy security and sustainability in the coming years.
