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ACEN, Rockefeller Foundation eye first coal-to-clean energy initiative
The Philippine Star
|April 19, 2024
The first coal to clean credit initiative (CCCI) pilot project could save up to 19 million tons of carbon emissions through the decommissioning of a coal plant, ACEN Corp. and the Rockefeller Foundation said.
An assessment was made on the climate impact of carbon finance to close the South Luzon Thermal Energy Corp. (SLTEC) coal plant in 2030 and replace it with clean power and battery storage.
The CCCI is planning to decommission the plant in 2030, 10 years ahead of its scheduled retirement following findings that the project meets the criteria.
"We are delighted to accomplish this important milestone of confirming the project's eligibility under CCCI's draft methodology," ACEN president and CEO Eric Francia said.
This story is from the April 19, 2024 edition of The Philippine Star.
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