Akuo Energy, the French independent renewable energy power producer, Bell Pirie Power Corp. and PNOC RC have signed a Memorandum of Understanding (MoU) for the development of a next- generation renewable marine energy project.
This cooperation agreement was signed during a luncheon organised by the Makati Business Club at the Fairmont Hotel, during which French President Francois Hollande, who was visiting Manila, gave a speech on the topic “Philippines – France: Addressing Climate Change Towards Inclusive Development”.
The agreement lays the foundations for a partnership focusing on the co-construction and deployment of an Ocean Thermal Energy (OTE) system in the Philippines.
The Philippines government has put in place an ambitious renewable energy programme covering the period through to 2030, in a country that already has considerable hydroelectric and geothermal capacities.
Given that this country is an archipelago consisting of many islands, OTEC technology can help the Philippines achieve its national objective of increasing the percentage of renewable energies in its energy mix. Through this partnership, the signatories to this MoU will provide the Philippines government with crucial and valuable support to help it achieve its targets.
Image: DCNS (Illustration)