ECCP and PE2 showcase ESCO capabilities in 5th EE forum

Date Published: 
November 26, 2020
  • Speakers from PE2 and the ESCO sector pose for a group photo during the ECCP-PE2 co-organized EE forum on 26 November 2020. Clockwise from upper left: Theresa Acedillo-Lapuz of PE2 and Hi-Cool Engineering; Thomas Teehan of Minimise Southeast Asia; Ruth Yu Owen of PE2 and Upgrade Energy Philippines; Raymond A. Marquez of PE2 and EconoServ Solutions; and, Alexander Ablaza of PE2 and Climargy. (Screenshot image: ECCP)
    (Image: ECCP)

MAKATI CITY, 26 November 2020 – The European Chamber of Commerce of the Philippines (ECCP) and the Philippine Energy Efficiency Alliance (PE2) co-hosted earlier today the fifth energy efficiency (EE) event under the ECCP Energy Smart Forum Series with its EE Forum entitled “Partnering with ESCOs to Launch Energy Efficiency Programs.” PE2 member companies EconoServ Solutions International, Solrev Energy (on behalf of Minimise Southeast Asia) and Upgrade Energy Philippines sponsored today’s EE forum, which is aimed at increasing market awareness and confidence on the use of energy service company (ESCO) performance contracting business model to finance and implement EE projects across large designated establishments.

Speakers from PE2 and the ESCO sector pose for a group photo during the ECCP-PE2 co-organized EE forum on 26 November 2020. Clockwise from upper left: Theresa Acedillo-Lapuz of PE2 and Hi-Cool Engineering; Thomas Teehan of Minimise Southeast Asia; Ruth Yu Owen of PE2 and Upgrade Energy Philippines; Raymond A. Marquez of PE2 and EconoServ Solutions; and, Alexander Ablaza of PE2 and Climargy. (Screenshot image: ECCP)

Speakers from PE2 and the ESCO sector pose for a group photo during the ECCP-PE2 co-organized EE forum on 26 November 2020. Clockwise from upper left: Theresa Acedillo-Lapuz of PE2 and Hi-Cool Engineering; Thomas Teehan of Minimise Southeast Asia; Ruth Yu Owen of PE2 and Upgrade Energy Philippines; Raymond A. Marquez of PE2 and EconoServ Solutions; and, Alexander Ablaza of PE2 and Climargy. (Screenshot image: ECCP)

PE2 vice president for external affairs and Hi-Cool Engineering director Theresa Acedillo-Lapuz opened the event as moderator of the webinar.

PE2 president Alexander Ablaza set the tone in the discussions by talking about how ESCOs play a crucial role in mobilizing a significant volume of off-balance sheet capital under a long-term objective of bridging the USD 243 billion financing gap to meet the DOE’s 2040 EE roadmap targets. In his presentation, he further elaborated how a responsive suite of tax-based fiscal incentives for projects would be critical to attract private sector capital, especially toward EE project investments outside the balance sheets of energy end-users. Ablaza updated the participants on the 7-year history of pushing for fiscal incentives for EE projects in the Philippines under the parallel policy frameworks of Executive Order No. 226 and Republic Act No. 11285. The PE2 president also reported on the status of the emerging guidelines for EE projects from both the Department of Energy (DOE) and the Board of Investments (BOI).

PE2 vice president for internal affairs and Upgrade Energy Philippines president Ruth Yu-Owen highlighted the roles of ESCOs in improving energy performance by providing best practices and cases where establishments are able to maximize their energy savings and be more energy-efficient in their operations.

PE2 treasurer and EconoServ Solutions International managing director Raymond A. Marquez talked about “Efficiency as a Service,” outlining its benefits, which includes savings on projects, zero-cost or off-balance sheet to end-users, enhanced reliability of operations, reduced carbon emissions, and compliance with the Energy Efficiency and Conservation Act. EconoServ made this presentation on behalf of its partnership with Nexergy and ClimaCheck.

Thomas K.K. Teehan, Managing Director of Solrev Energy and Minimise Southeast Asia, presented on related topic “Energy Efficiency as a Service,” highlighting three areas: direct financial value on increasing profitability and productivity, indirect business value that helps with risk mitigation, and long-term value which includes improving energy resilience and innovation environmental and social impact.

The ESCO forum was the fifth webinar under an ECCP-PE2 collaboration for EE events under the Energy Smart Forum Series 2020.

About PE2

Philippine Energy Efficiency Alliance Inc. (PE2), is a non-stock, non-profit organization of energy efficiency market stakeholders.

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R.A. 11285 - An Act Institutionalizing Energy Efficiency and Conservation, Enhancing the Efficient Use of Energy, and Granting Incentives to Energy Efficiency and Conservation Projects

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Beyond COVID-19: How governments, ESCOs and innovative financial modalities can mobilize energy efficiency capital through 2040

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