The power industry’s shift to a future with cleaner and better generation technologies require investments in “transition” technologies today to ensure energy security and affordability for present and future generations, an Aboitiz Power Corporation (AboitizPower) official said.
In particular, liquefied natural gas (LNG) is being regarded as a transition fuel to support the entry of more variable renewable energy (RE) and to give time for emerging technologies to be commercially viable.
“New and emerging technologies — energy storage, small modular nuclear reactors (SMRs), and hydrogen — are still expensive today. But our need for energy continues year-on-year and we have retiring old plants, so we really need a lot of new capacity,” said AboitizPower Head of Energy Transition Projects Felino Bernardo. “We will need more LNG-to-power projects, RE capacity, and, at some point in time, we believe that these new and emerging technologies will come in to further accelerate the transition to more decarbonized sources of electricity.”
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