MANILA – President Ferdinand R. Marcos Jr. has witnessed the signing of memorandum of understanding (MOU) on clear know-how between Aboitiz Power Corp. and Japan’s largest energy technology agency, JERA Co., Inc., throughout his official go to in Japan.
In a disclosure to the Philippine Stock Exchange, AboitizPower stated its chairperson Sabin Aboitiz and JERA president Satoshi Onoda signed an MOU to discover ‘greener gasoline’, which includes using ammonia and hydrogen in energy technology.
Through the MOU, AboitizPower and JERA will undertake feasibility evaluation on ammonia co-fired energy technology and the event of the ammonia and hydrogen worth chains within the nation.
The use of different fuels helps the federal government’s initiatives towards decreasing carbon footprint to mitigate the impacts of local weather change.
“By joining forces in the pursuit of greener fuels, our two companies are not only advancing the cause of sustainability, but also paving the way for a cleaner and more vibrant future. Ammonia offers a compelling solution for decarbonizing the power sector and by looking into it, we are taking a step towards developing the infrastructure needed to support the ammonia and hydrogen value chains,” Aboitiz stated.
AboitizPower stated making use of the greener gasoline know-how to the prevailing coal-fired energy vegetation will lead to a discount of carbon dioxide emission by as much as 50 p.c.
“Through this collaboration, we will support Aboitiz’s power decarbonization efforts while also considering additional opportunities for advancing technology development in the Philippines. This MOU allows JERA to leverage its experience and capabilities to support both AboitizPower and the Philippines to reach their emissions targets,” Onoda stated.
In 2021, JERA purchased 25.01 p.c in AboitizPower from Aboitiz Equity Ventures, Inc. at USD1.463 billion, and one other 1.99 p.c from Aboitiz household’s privately held agency Aboitiz & Company.
During his assembly with Japanese corporations Thursday, Marcos underscored the significance of AboitizPower-JERA partnership within the growth of the nation’s energy sector.
“Of course, the investment is important, but the transfer of technology is also extremely important and that will give the Philippines a self-sufficiency, which we have been missing,” he stated. (PNA)