Indo-Pacific group managing $25-b fund identifies PH energy sector as focus area

Energy Secretary Raphael Lotilla on Monday welcomed the announcement by the Coalition for Emerging Market Infrastructure Investment (CEMII), which manages a $25-billion fund, that it chose the Philippine energy sector as its initial focus market for infrastructure investment across the Indo-Pacific Economic Framework (IPEF) economies.

This developed as the Philippines is estimated to require around $500 billion in investment from 2024 to 2050 to achieve a successful clean energy transition.

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The Indo-Pacific Partnership for Prosperity (IP3) recognized the Philippines as an ideal market given the country’s rapid growth in energy demand and ambitious renewables targets.

The CEMMII, convened by IP3 and co-chaired by Global Infrastructure Partners and KKR, includes prominent members such as Allied Climate Partners, BlackRock, Brookfield, GIC, The Rockefeller Foundation and Temasek.

Lotilla expressed his strong support for the initiative, highlighting that the 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,” Lotilla said.

The coalition will launch this new strategy to 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 percent annually until 2050.

Lotilla said 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 2024. It was created to support IPEF economies in achieving their economic development, human capital and sustainability objectives and prioritizes the identification, promotion, and development of successful infrastructure projects throughout the region.