Dominguez: Wind power in PH of keen interest to Russian investors

Among the possible fruits of President Rodrigo Duterte’s recent visit to Russia? More wind farms in the Philippines, the head of the economic team said on Tuesday, Oct. 8.

On the sidelines of The Asset’s 14th Philippine Forum, Finance Secretary Carlos G. Dominguez III told reporters that Russian investors were keenly looking at power infrastructure projects in the Philippines.

“All kinds of power—distribution, technology, power generation; also, renewable energy,” Dominguez said.

“In fact, we spoke to one of their energy companies—they have extensive wind power,” the finance chief added.

Dominguez joined Duterte’s five-day state visit to Russia last week.

During the visit, the Philippines and Russia also signed a memorandum of intent to explore the possible construction of nuclear power plants here.

While he did not have exact figures, Dominguez said the amount of investments generated during the Russia trip was “quite significant.”

“You have to remember that we don’t have a big relationship with Russia, and I think that the trip of the President opened the avenues for increased contact with Russians [in areas] like tourism and investments here,” according to Dominguez./TSB