THE MINDANAO Development Authority (MinDA) aims to draw more renewable energy projects in Mindanao to bring in foreign investors and provide more sustainable power in the region.
During a press conference on Oct. 28, MinDA deputy executive director Asec. Romeo Montenegro said MinDA has seen an uptick in energy investments, along with more investments in manufacturing and real estate that are now spreading across Mindanao.
“Power, which is very much crucial and critical, gives Mindanao leverage in terms of attracting these investments,” Montenegro said.
He highlighted that investors will have a difficult time visiting and conducting business in areas with frequent brownouts and red alerts. In 2018, when Mindanao shifted from rotating brownouts to having excess power supply, many investments came to the region.
MinDA has also been working with the Dinagat Islands Governor Nilo Demery Jr., and Davao del Norte Governor Edwin Jubahib to invite Korean investors and other entities for opportunities in power projects.
“So, now is the opportunity for us to work closely with the private sector and all other government agencies to make sure that we do the planning and timing in the entry of investments and the facilitation for government approval for many of the permitting processes for an energy project in Mindanao,” he said.
The agency is also pushing for Mindanao to reach a 50/50 power mix of renewable energy and fossil fuels by 2030, approved by the Department of Energy (DOE), to reduce reliance on imported fuels and lower power costs.
Montenegro shared that 60% of the electricity in the Philippines is powered by fossil fuels, especially coal imported from East Kalimantan in Indonesia that is affected by market volatility and foreign exchange fluctuation.
Energy was also a major topic of discussion at the MDF 2026 to establish a strong partnership with government agencies, the private sector, and development partners for the necessary blended financing for energy.
