Energy Secretary Raphael P.M. Lotilla welcomes the announcement by the Coalition for Emerging Market Infrastructure Investment (CEMII) with the Philippine energy sector chosen as their initial focus market for infrastructure investment across the Indo-Pacific Economic Framework (IPEF) economies.
This significant move was announced by the Indo-Pacific Partnership for Prosperity (IP3), recognizing the Philippines as an ideal market for this transformative initiative given the country’s rapid growth in energy demand and ambitious renewables targets.
Convened by IP3 and co-chaired by Global Infrastructure Partners and KKR, the CEMMII includes prominent members such as Allied Climate Partners, BlackRock, Brookfield, GIC, The Rockefeller Foundation, and Temasek.
Secretary Lotilla expressed his strong support for this initiative, highlighting that this partnership aligns perfectly with the country’s energy goals, particularly in the transition towards a more sustainable, clean and resilient energy sector. “We look forward to working closely with the Coalition to realize our shared vision of a clean energy future for the Philippines and the broader Indo-Pacific region,” Secretary Lotilla said.
The Coalition will launch this new strategy, which will advance innovative, action-oriented approaches that enable capital to be deployed quickly and at a scale, according to IP3.
The IP3 cited the Philippines’ critical role in the Indo-Pacific's economic and energy landscape with energy consumption projected to grow by 3% annually until 2050. The Philippines is estimated to require around $500 billion in investment from 2024 to 2050 to achieve a successful clean energy transition.
The Department of Energy welcomes the opportunity to collaborate with the Coalition to identify mutual areas of interest and develop a joint roadmap to accelerate investment in clean energy infrastructure.
CEMII was initially introduced at the IPEF Clean Economy Investor Forum in Singapore in June of this year. Created to support IPEF economies in achieving their economic development, human capital, and sustainability objectives, the Coalition prioritizes the identification, promotion, and development of successful infrastructure projects throughout the region. ###