ADB eyes renewed support for Phl energy projects

The Manila-based Asian Development Bank (ADB) has expressed renewed commitment to support the Philippines’ energy-sector initiatives as the country seeks to meet growing demand and position itself as a regional energy player.

In an interview on the sidelines of the Singapore International Energy Week (SIEW) on Wednesday, ADB Senior Director for Energy Priyantha Wijayatunga said the bank is looking to re-engage with the Philippines’ energy sector after a period of inactivity.

“We have not been engaged in the energy sector for some time in the Philippines, but this is opening up—and hopefully for a longer relationship,” Wijayatunga said.

While declining to disclose exact figures, he noted that ADB’s potential financing for energy-related projects could reach up to USD1 billion, citing the scale of investment needed for major undertakings.

Among the projects being considered is the enhancement of the national power grid to accommodate renewable energy sources such as offshore wind. “If you want to bring offshore wind into the grid, you need grid investments. And that’s what we’re looking at,” Wijayatunga said.

He noted, however, that since the country’s transmission network is managed by the privately owned National Grid Corporation of the Philippines (NGCP), ADB financing would require a government partnership.

Beyond grid modernization, ADB also plans to assist in projects promoting energy efficiency in public infrastructure, new technologies for electrifying remote areas, and initiatives that ensure sustainable power for small island communities.

Wijayatunga said the goal is to ensure a reliable and sustainable energy supply to support the Philippines’ expanding economy. “The Philippines is a big player in services and manufacturing, so cheap, clean power is very important,” he said.

The ADB official added that strengthening the country’s energy capacity aligns with regional efforts to develop the ASEAN Power Grid (APG), a long-term project that aims to link the electricity systems of Southeast Asian nations.

The ADB, World Bank Group, and the Association of Southeast Asian Nations (ASEAN) recently reaffirmed their partnership to advance the APG during the 42nd ASEAN Ministers on Energy Meeting in Kuala Lumpur last October 15.