9 March 2026
Climate Smart Ventures and Puyat Jacinto Santos Law Partner to Develop Pathways for Early Coal Plant Retirement in the Philippines
Climate Smart Ventures and Puyat Jacinto Santos Law Partner to Develop Pathways for Early Coal Plant Retirement in the Philippines
Ivan Galura, Associate Director
Ruth Reyes, Marketing Associate
March 9, 2026 – Makati City, Philippines – Climate Smart Ventures (CSV) and Puyat Jacinto & Santos Law (PJS Law) signed a Memorandum of Cooperation (MoC) to collaborate on the development of key policy programs and regulations aimed at incentivizing Independent Power Producers (IPPs) to pursue the early decommissioning of coal-fired power plants in the Philippines under the Philippine Coal Power Transition Initiative (PH COPTI).
In 2023, the Philippine Department of Energy (DOE) announced its Philippine Energy Transition Plan anchored on four key strategies: accelerated deployment of renewable energy, offshore wind development, smart and green grid plan, and voluntary early retirement and repurposing of coal-fired power plants (CFPPs). The DOE has since issued a number of policies to support the fourth pillar of voluntary early retirement, including prohibiting coal plants from operating beyond their economic life, mandating asset owners to develop a transition plan for coal power plants prior to the end of their economic life, and requiring the strict implementation of performance and efficiency standards for conventional thermal plants.
Through PH COPTI, CSV and PJS Law seek to build on these landmark policy initiatives from the Philippine government to design and develop detailed policy programs to further encourage voluntary early coal retirement and repurposing within the Philippines’ liberalized power generation market. Under the MoC, CSV and PJS Law will combine their respective expertise to create an enabling commercial and policy environment for the early decommissioning of CFPPs in a just and orderly manner. This partnership seeks to bridge the gap between technical financial modeling and the complex legal frameworks and policy environment required to complete a coal-to-clean transaction.
“Accelerating the managed transition of coal power plants in the Philippines, in a manner that is responsible and commercial, is critical for the Philippines to meet its clean energy and climate goals,” said Lawrence Ang, Co-Founder of CSV. “Through PH-COPTI, CSV is committed to providing both technical expertise and practical solutions that enable a just, orderly, and investment-friendly transition for the country’s power sector.”
CSV brings extensive technical expertise to this collaboration. In 2024, it completed a technical study examining the policy, technical, financial, and commercial challenges facing a just energy transition in the Philippines. In 2025, CSV released a public-facing report outlining replacement options for CFPPs, reinforcing confidence among public and private stakeholders that a just and feasible coal transition is possible.
PJS Law has established itself as a leading legal advisor shaping the Philippines’ energy and infrastructure landscape and is consistently recognized as a top-tier firm by The Legal 500 for Projects and Energy. In 2024, the firm became a member of Dentons, the world’s largest law firm, further strengthening its regional and global reach across ASEAN. Leading the PJS Law Team for PH COPTI is the firm’s Senior Partner, Atty. Monalisa C. Dimalanta, who has extensive experience in shaping Philippine energy policy and regulation through her previous terms as Chairperson of the National Renewable Energy Board and Chairperson and Chief Executive Officer of the Energy Regulatory Commission.
By integrating CSV’s broad transaction experience and global expertise on coal transition with PJS Law’s unparalleled regulatory depth and robust policy insights, the partnership provides a comprehensive vehicle to advance the transition of the Philippine power sector in a just, managed, and responsible manner. Toward the conclusion of PH COPTI, a Transition Pathways Policy Report will be presented to Philippine policymakers outlining key recommendations on specific policies and market-based mechanisms to incentivize the early retirement of CFPPs in the Philippines.
About Climate Smart Ventures
Climate Smart Ventures (CSV) is an advisory firm advancing the energy transition in Asia. Our expertise and projects span coal to clean utility-level energy transition, industrial decarbonization, grid transformation, transition finance, and government-level policy recommendations. We also provide ESG and sustainability advisory services, focused on decarbonization and management of environmental and social impacts. Ecosystem building and collaboration are key elements of our firm, which partners closely with the region’s leading corporates and power portfolio owners, investors, off-takers, and others. For more information, visit https://climatesmartventures.com.
About PJS Law
PJS Law is a full-service law firm offering a comprehensive range of legal services in established and emergent fields of practice. PJS Law’s combination with global law firm Dentons enables the firm to help clients Grow, Protect, Operate and Finance their organizations in the Philippines and more than 160 locations in over 80 countries around the world. For more information, visit https://www.pjslaw.com/en/.