GLOBAL infrastructure investment company Morrison said it is exploring more opportunities in the Philippines’ renewable energy sector.
“Our teams will bring their expertise and experience in renewable energy development to work closely with stakeholders, government authorities, and communities in the Philippines to navigate regulatory complexities, enhance infrastructure reliability and operate to the highest environmental, social and governance standards,” Morrison Chief Executive Officer Paul Newfield said in an e-mail on May 28.
Through the listed infrastructure firms it manages, he said the company is “committed to advancing renewable energy solutions that align with the Philippines’ targets.”
Morrison, which was founded in New Zealand in 1988, said it has invested in the 75-megawatt (MW) Palauig solar power plant in Zambales. The project is expected to be completed by the third quarter of 2024.
The company, which has managed listed infrastructure portfolios since 2006, is also investing in the Capas project, a solar farm with a peak capacity of 39 MW.
The two solar projects are being developed by Singapore-based Gurīn Energy, which is owned by Infratil, a listed infrastructure firm managed by Morrison since 1994.
“Through Infratil’s investment in Gurīn Energy, the aim is to contribute to the sustainable growth of the energy sector in the Philippines while ensuring alignment with national objectives and community priorities,” Mr. Newfield said.
Morrison-managed platforms currently have a renewable energy and storage portfolio of 4.4 gigawatts (GW) and a development pipeline of more than 50 GW across Europe, Asia, North America, and Australia, he noted.
“As the Philippines actively explores new renewable energy projects as part of its broader agenda to reduce the carbon intensity of its energy supply, it offers an attractive environment for energy sector investments, supported by progressive policies, increasing energy demand, and a strong commitment to renewable energy,” he added. — Sheldeen Joy Talavera
