PH Ambassador Pitches Geothermal, Renewable Energy Projects at Renewable Energy Event
ABU DHABI 11 October 2021 — Philippine Ambassador to the United Arab Emirates (UAE) Hjayceelyn M. Quintana spoke at the launch of the Energy Transition Accelerator Financing (ETAF) Platform in Dubai on 05 October 2021, part of a Minister-level event on renewable energy held on-site at the World Expo Dubai.
In her remarks, the Ambassador highlighted the Philippines' abundant renewable energy resources, making it ideal for investments on large-scale geothermal energy projects which are open to 100 percent foreign ownership. Ambassador Quintana said that the Philippines welcomes the ETAF, a climate financing platform initiative of the International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD), which allows countries that suffer the most from the effects of climate change to transition to sustainable, resilient and renewable energy.
The launch brought together the climate change-affected countries, mostly belonging under the category small island developing states or SIDs. The UAE, which hosts IRENA and the ADFD, is keen on investing in renewable energy worldwide, with projects in 70 countries around the world costing US$ 16.8 billion.
The ETAF Platform will seek to mobilize a minimum of US$1 billion in renewable energy financing for developing countries through 2030.
IRENA Director-General Francesco La Camera and ministers from IRENA member countries were the featured speakers at the forum. Other keynote speakers were the President of the 76th UN General Assembly, Minister of Foreign Affairs of Maldives as well as Antigua and Barbuda. END
For more information, visit https://www.abudhabipe.dfa.gov.ph or https://www.facebook.com/PHinUAE/.