BIZ BUZZ: From coal to clean?

South Korea-based Korea Electric Power Corp. (Kepco) is not done yet with the Philippine market as it readies deeper investments in clean energy space.

Energy Secretary Raphael Lotilla said he had met with Kepco president Kim Dong-cheol earlier this week to “reaffirm” the group’s commitment to the local power sector.

The Department of Energy even noted that Kepco “aims to accelerate its investments in renewable energy.”

The executives’ discussions were focused on three areas: renewables, nuclear energy and smart grid technology.

“As the Philippines pursues a just and inclusive energy transition, partnerships with experienced and forward-looking companies like Kepco will be instrumental in strengthening our energy security and sustainability,” Lotilla said.

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Currently, the South Korean firm operates the 200-megawatt coal-fired power plant in Cebu. But as the group pursues its carbon neutrality goals, Kepco earlier unveiled the target to unload its coal assets.

It also has a 38-percent stake in Solar Philippines subsidiary Solar Philippines Calatagan Corp., which manages a solar farm in Batangas.