ACEN, GenZero, Keppel join to catalyse retirement of coal-fired plants in Southeast Asia.(Photo: ACEN)
On the 16th, Philippine energy giant ACEN, Singapore’s green investment company GenZero, and multinational company Keppel signed a memorandum of understanding to develop clean energy solutions aimed at helping coal-fired power plants retire early and obtain "transition credits." If successful, this could become a global first.
Singapore and Philippines cross-national collaboration
By the end of 2023, ACEN, along with the Rockefeller Foundation and the Monetary Authority of Singapore, will jointly promote the "Coal to Clean Credit Initiative" (CCCI). The goal is to retire the 246 MW coal-fired power plant in Batangas, operated by South Luzon Thermal Energy Corporation, ten years ahead of schedule. The signing of this agreement signifies the addition of new partners.
