President Ferdinand R. Marcos Jr. on Wednesday expressed optimism about the implementation of more renewable energy projects in the country to address the challenges hounding the power sector.

During the inauguration of the 24.9-megawatt (MW) Lake Mainit Hydroelectric Power Plant in Jabonga, Agusan del Norte, Marcos expressed hope that the private sector would continue to help his administration in realizing its goal of advancing “affordable, reliable, and clean” energy in the country.

“I continue to be hopeful that we will come up with more projects that will make use of renewable resources and contribute to our ongoing efforts in solving our energy problems,” he said in his keynote speech.

“Let this inauguration that we are commemorating today serve as an encouragement to potential investors to invest in the country, especially in the power generation and the renewable energy sector.”

The President assured the private partners of the government’s commitment to improving bureaucratic processes in the energy sector to make it easier for them to invest in the country.

He made the pledge as he acknowledged that public-private partnerships are vital in achieving an energy secure future and building a more prosperous Philippines for the present and coming generations.

“This lies at the very core of the eight-point socioeconomic agenda, as well as our commitment to mitigate the impact of climate change and to combat other environmental threats,” Marcos said.

He noted that as the country’s power demand continues to increase, initiatives and projects, such as the Lake Mainit Hydroelectric Power Plant, are “most welcome” to boost the energy supply and improve the energy mix by prioritizing the use of renewables.

Apart from generating power, he said, the Lake Mainit power plant is also expected to generate socioeconomic opportunities for the people of Agusan del Norte and the rest of Mindanao.

“The development of this hydro(electric) power site is a defining step towards our goal of securing much-needed power for the people of Agusan del Norte and its neighboring areas by taking advantage of its water sources,” he said.

With a total capacity of 24.9 MW, the Lake Mainit power plant aims to deliver reliable and accessible electricity to the consumers of the Agusan del Norte Electric Cooperative, Inc. (ANECO) and support the ever-growing demand for energy from both residential and commercial sectors in the Caraga region.

It targets to provide approximately 100,871 MW of clean and affordable energy to about 45,000 households in local communities each year, supporting the Philippines’ economic and social development through a resilient renewable energy solution.

Lake Mainit is bounded by the provinces of Agusan del Norte and Surigao del Norte and is the deepest lake in the country with an estimated maximum depth of 219 meters.

It is also the fourth largest freshwater lake in the Philippines that serves as a natural water reservoir for the Lake Mainit Hydroelectric Power Plant.

‘Reliable partners’

The project is a joint partnership between the Philippines’ Markham Resources Corp. and Japanese firm J-POWER.

Aside from providing dependable and affordable energy solutions, both companies are committed to decreasing the carbon footprint in the hydroelectric power plant’s operations.

Marcos thanked Markham Resources and J-POWER for being “reliable partners.”

“This project was made possible because of the shared commitment we have with our reliable partners in the private sector both from the Philippines and Japan,” he said. “This partnership that you have forged for the development and operation of this hydroelectric power project in Agusan del Norte is a clear manifestation of the trust and support that our two nations hold for each other.”

Marcos urged the local government of Agusan del Norte to provide all the necessary assistance to ensure the efficiency, safety, and productivity of the Lake Mainit power plant. (PNA)