Mindanao attracts multi-billion dollar energy investments

DAVAO CITY – Mindanao Development Authority (MinDA) Secretary Leo Tereso Magno highlighted the influx of multi-billion dollar investments in Mindanao, including an upcoming $1-billion outlay by French renewable energy firm Hydrogen de France S.A. (HDF Energy) on power plants.

The projects will target both off-grid areas and regions within the grid facing power shortages.

“This is an accomplishment not only for Mindanao but for our entire nation and its people. It is also a significant achievement for the President,” Magno emphasized.

On July 19, Secretary Magno witnessed the signing of a memorandum of cooperation between HDF and representatives from Agusan del Sur, Surigao del Norte, and Zamboanga City for the project.

Magno noted that President Marcos has instructed all government agencies, including MinDA, to facilitate a smooth business environment for investors in public-private partnerships.

HDF Energy specializes in developing, financing, building, and operating multi-megawatt power plants. The first commercial-scale project is underway on Olutanga Island in Zamboanga.

By harnessing renewable green hydrogen from domestic sources, HDF aims to ensure energy stability for the Philippines and support the transition to a green economy.

Magno expressed gratitude to HDF, led by Mathieu Geze, President Director of HDF Energy Philippines Holdings Incorporated, and French Ambassador to the Philippines Marie Fontanel.

“We thank HDF and the French Ambassador for their support. Despite Mindanao's challenges, its immense potential is now being realized,” Magno said.

Magno stressed the importance of attracting investors and pledged MinDA's continued support to ensure effective collaboration among stakeholders, especially local governments, to safeguard investments and promote sustainability in Mindanao.