This project aims to increase the flow of investment resources to renewable energy and reduce coal-fired power production, thus responding to ETP’s strategic objective to de-risk investments for renewable energy.

It will facilitate the early retirement of fossil fuel-based power plants through innovative financial engineering with a pathway to channel capital to clean energy technologies. It will lead to greenhouse gas (GHG) emission reductions and contribute to meeting the Paris Climate goals while ensuring energy security through more investments in renewables. The project will take the case of one coal-fired power plant in the Philippines and will use the experience to establish mechanisms that will facilitate coal phaseout. The project leverages lessons from global experience with early coal-fired power production retirement.