PNOC and Moorfields Capital Pte Ltd have joined hands to kickstart aquavoltaic development in the Philippines. The signing of the Memorandum of Understanding (MOU) on April 25, 2024, marks the beginning of this promising venture.

PNOC President and CEO, Oliver B. Butalid, highlighted PNOC’s approach to project evaluation, focusing on national impact and profitability. With a vision to lower electricity costs and advance societal goals, PNOC identified aquavoltaics as a strategic avenue for sustainable energy development.

After thorough coordination, President Butalid recognized Mr. Hee Meng Chia, CEO of Moorfields, as an ideal partner for the aquavoltaic project. Moorfields Capital, headquartered in Singapore, specializes in sustainable investment and shares PNOC’s commitment to renewable energy initiatives.

Mr. Chia’s expertise spans various sectors, including renewable energy, food security, and poverty alleviation, making him a valuable asset to the aquavoltaic project. Through this partnership, economic opportunities will be created for fish farmers, while simultaneously boosting job creation and enhancing community energy supply.

Although aquavoltaics is still emerging in the country, PNOC’s pioneering initiative aims to ignite interest and drive further development within the energy community. This collaboration between PNOC and Moorfields represents a significant step towards realizing the potential of aquavoltaics in the Philippines’ energy landscape.