{"id":5221,"date":"2026-08-13T05:43:41","date_gmt":"2026-08-13T05:43:41","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=5221"},"modified":"2026-08-13T05:43:41","modified_gmt":"2026-08-13T05:43:41","slug":"the-philippines-needs-power-of-all-sorts-to-build-energy-security-following-a-nationwide-crisis-says-prime-infra-ceo-guillaume-lucci","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=5221","title":{"rendered":"The Philippines needs \u2018power of all sorts\u2019 to build energy security following a nationwide crisis, says Prime Infra CEO Guillaume Lucci"},"content":{"rendered":"<div>\n<p>\u201cWhat we need is more energy of all sorts, not only more renewable energy,\u201d Lucci, the CEO of Filipino infrastructure firm Prime Infra, tells <em>Fortune<\/em> at the firm\u2019s headquarters in Pasay City, Manila. \u201cWe don\u2019t see energy reliability and affordability as being decoupled from decarbonization, but for now, we need a bit of everything.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5219\">Norway $2.3 trillion fund posts best quarter since 2020<\/a><\/p>\n<p>When the U.S.-Iran war broke out in February, shuttering the Strait of Hormuz and halting oil flows from the Gulf, there were few countries as hard hit as the Philippines. The archipelagic Southeast Asian country, which imports 98% of its oil from the Gulf, declared a nationwide energy emergency on March 24, which President Ferdinand Marcos Jr. said would remain in effect for a year.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Lucci\u2019s pragmatic all-of-the-above approach cuts against some of the more purist energy transition narratives dominating Western capitals. In a country that imports almost all of its fuel from the Gulf, and had just 45 days of buffer supply during one point in the Iran crisis, he argues that reliability, affordability, and decarbonization can\u2019t be sequenced neatly but must be pursued in parallel.\u00a0<\/p>\n<p>Prime Infra\u2019s sprawling portfolio in the Philippines, from the Malampaya gas field to the Wawa hydropower dam and a nascent waste-to-energy business, is a test case for whether a diversified mix of assets can deliver resource security for a vulnerable emerging economy.<\/p>\n<p>Lucci says that people often don\u2019t understand how long it takes to build green infrastructure, adding that humanity needs stop-gap measures as they\u2019re being constructed and scaled. (The Wawa dam, for example, was constructed between 2021 and 2025, and only began operations late last year.) \u201cWe\u2019ve evolved and transitioned dramatically over the past 50 years, it\u2019s just that infrastructure is so complex,\u201d he says. \u201cThese projects take a long time to be built, mature and show returns. It\u2019s a slow-moving process, but one that\u2019s continuously in motion.\u201d<\/p>\n<p>Aside from energy, Prime Infra\u2019s other focus areas\u2014water and waste management\u2014also reflect the Philippines\u2019 most urgent national priorities. According to international non-profit Water.org, 59 million Filipinos, or 51% of the country\u2019s population, lack access to safe drinking water, while 37% are unable to access clean toilets.\u00a0<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Guillaume founded Prime Infra in 2017, with the backing of Filipino billionaire Enrique Razon Jr. The duo started the firm in the hopes of not just funding or building infrastructure, but having a continued stake in ensuring that they are operating effectively. (Guillaume initially served as the firm\u2019s president and COO, before taking on the role of CEO in 2022.)<\/p>\n<p>\u201cThe DNA of the company is to develop, invest and operate assets for a long time,\u201d Lucci, an engineer by training, says. \u201cIt\u2019s not about coming in, building assets, then going away. We intend to partner with and be embedded in local communities for decades to come.\u201d<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Guillaume\u2019s passion for infrastructure was seeded during his childhood, which he largely spent across Morocco and Spain during the 1970s and 80s. \u201cI spent most of my childhood in environments that are structurally deficient, so that shaped a lot of my views on how to address basic needs with infrastructure.\u201d\u00a0<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Lucci trained as an engineer in France, Brazil and the U.S., before moving to the Philippines in 2014 to join Razon\u2019s port management company, International Container Terminal Services, or ICTSI. (Both ICTSI and Prime Infra are listed on <em>Fortune<\/em>\u2019s Southeast Asia 500 list, at No. 113 and No. 246, respectively.)<\/p>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>\u201cICTSI is a Filipino company that has a global footprint in emerging markets, and I really wanted to work in markets with significant barriers to entry,\u201d Lucci explains. \u201cICTSI builds infrastructure in places like the Democratic Republic of Congo, Papua New Guinea, Iraq, Honduras and Mexico.\u201d<\/p>\n<p>In contrast to its sister firm, Prime Infra\u2019s assets sit mostly within the Philippines, . \u201cWe are growing, urbanizing, industrializing, digitizing and electrifying, so all of that combined makes for a very exciting environment to build infrastructure,\u201d Lucci says.\u00a0<\/p>\n<p>Yet, Lucci admits that the Philippines isn\u2019t an easy market to build in. He cites heavy bureaucratic processes, social complications of tapping indigenous land, and the country\u2019s inherent vulnerability to natural disasters as key challenges.\u00a0<\/p>\n<p>\u201cWhen you build with climate resilience in mind, you find yourself in a situation where you\u2019re designing for extremes rather than averages\u2014and that actually makes infrastructure more expensive,\u201d Lucci explains.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>Construction of the company\u2019s Wawa hydropower dam in Luzon, Philippines, for instance, started in 2021; it only began operations late last year. It cost a hefty 26.5 billion Philippine pesos, or roughly $500 million, to erect. Now complete, it serves as both a source of clean water for Metro Manila\u2019s residents and a gravity-fueled battery for pumped-storage hydropower.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5217\">Elon Musk says AI will make money disappear. But crypto billionaire Michael Saylor says he\u2019s wrong for one key reason: \u2018We\u2019re status-oriented animals\u2019<\/a><\/p>\n<p>According to Lucci, the dam also acted as a defensive bulwark during last November\u2019s Typhoon Uwan, capturing over 99% of rainfall and sparing the lives of many downstream communities.<\/p>\n<p>Lucci and his team made their first venture into the waste management space in 2022, establishing Prime Integrated Waste Solutions, a wholly-owned subsidiary of Prime Infra which builds and operates modern waste recovery facilities. \u201cIn the Philippines, there was a very limited regulatory environment in support of waste management to industrialize it at scale,\u201d he says. \u201cIt\u2019s a challenging space because it\u2019s so fragmented.\u201d\u00a0<\/p>\n<p>At the moment, Prime Infra sorts, treats and sells waste to other industrial users. But Lucci has bigger plans: a waste-to-energy pipeline turning trash into power and heat, using systems like combustion, boilers and steam turbines. \u201cWe wanted to position ourselves to access the waste stream, because the feedstock is fundamental to sustainable fuels and can be tapped for energy production,\u201d Lucci explains.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>In 2023, oil and gas supermajor BP invested $10 million into WasteFuel Global, a sustainable fuels company backed by Prime Infra. (Prime Infra also owns WasteFuel Philippines, which is set to develop local biorefinery facilities converting municipal and agricultural waste into biomethanol.)\u00a0<\/p>\n<p>Still, Lucci says the waste-to-energy pipeline he envisioned for the firm has yet to become reality.\u00a0<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>\u201cThe material recovery and municipal waste treatment facilities already exist, but infrastructure for the second part, where waste is turned into energy, has yet to be built,\u201d he says. \u201cWe are ready to execute, but need a contract to finance it.\u201d He acknowledges, too, that the global sustainable fuel sector is hamstrung by severe supply shortages, high production costs and shifting government support.<\/p>\n<p>Lucci shrugs off the headwinds: \u201cIt\u2019s like everything else\u2026 If it were easy, everybody would be doing it.\u201d<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>After spending almost a decade building expertise in the Philippines, Lucci says Prime Infra is now looking for opportunities abroad.\u00a0<\/p>\n<p>In March, Prime Infra made its first venture overseas, acquiring Colombia\u2019s largest privately-owned oil and gas production company, SierraCol Energy, from Washington-based private equity firm Carlyle. (The sum of the transaction was undisclosed, but Reuters reported that Carlyle was seeking $1.5 billion for SierraCol.)<\/p>\n<p>\u201cWe will be ten years old next February,\u201d Lucci says. \u201cIf you take into account the gestation periods of our projects, the first six to seven years were really about winning at home, and making sure that we were operating at a standard which allows us to compete internationally\u2026 Once we reached that turning point, we started looking outwards.\u201d<\/p>\n<p>Lucci declined to name specific markets that Prime Infra is likely to enter, but he admitted that he has a soft spot for Africa. \u201cI grew up in Morocco at a time where everything had to be built, and now it\u2019s a dominant force in renewable energy and has a lot of natural resources, metros and roadways,\u201d he says. \u201cI would say Africa has plenty of opportunities.\u201d<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Ultimately, even as Prime Infra continues to grow, Lucci hopes that it\u2019ll retain its core aim of building infrastructure to address societal needs. \u201cWe\u2019re striving for a good balance of strategic acquisitions and greenfield projects,\u201d he concludes. \u201cAfter all, the latter has been the defining trait of the business from the very beginning.\u201d<\/p>\n<p><em>In Fortune\u2019s \u201cAsia Agenda\u201d column, released twice a month, we speak with Asia\u2019s top business leaders about how they are building for the future and the lessons they\u2019ve drawn from leading companies in one of the world\u2019s fastest growing and most dynamic regions. Explore all of\u00a0our profiles here.<\/em><\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5215\">Sam Altman thinks working at Goldman Sachs \u2018sounds unbelievably terrible now\u2019 and admits he was \u2018peer pressured\u2019 into accepting an internship there<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prime Infra\u2019s Guillaume Lucci explains why the Philippines needs gas, renewables and waste-to-energy to secure its energy future.<\/p>\n","protected":false},"author":1,"featured_media":5220,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[],"class_list":["post-5221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-agenda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Philippines needs \u2018power of all sorts\u2019 to build energy security following a nationwide crisis, says Prime Infra CEO Guillaume Lucci - 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