December 2023 – At the COP28, ACEN announced the launch of its Just Energy Transition (JET) Roadmap for the 246 MW South Luzon Thermal Energy Corporation (SLTEC) coal-fired power.
The initiative builds on the momentum generated by ACEN’s Energy Transition Mechanism (ETM), the world’s first and only market-based transaction to successfully program the early retirement of a coal-fired power plant.
The Roadmap is being developed in partnership with the Coal Asset Transition Accelerator (CATA) which is a partnership between, Climate Smart Ventures, Carbon Trust, and Rocky Mountain Institute, supported by the European Climate Foundation, Growald Climate Fund, and IKEA Foundation.
The Coal Asset Transition Accelerator (CATA) is a first-of-its-kind plalorm that is focused on empowering coal asset owners, alongside governments, financiers and key local stakeholders, to put in place the financial mechanisms that will support acceleration of the transition away from coal in a just and inclusive way.
The Pooled fund on International Energy (PIE) hosted at the European Climate Foundation (ECF), the Carbon Trust, Climate Smart Ventures (CSV) and RMI partnered to initiate CATA, which was launched at COP26 in Glasgow in 2021.
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