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Phl second most attractive market for RE investment
December 10, 2024
|The Philippine Star
The Philippines has climbed two spots to become the second most attractive emerging market for renewable energy (RE) investments globally.
According to the BloombergNEF Climatescope 2024, the Philippines earned a power score of 2.65, closely trailing India's 2.73 and besting other 103 developing countries.
This marks an improvement from last year's fourth-place ranking and an impressive leap from 20th place in 2021.
Other emerging markets in the top 10 include China, Kenya, Romania, Brazil, Chile, Nigeria, Namibia and Guatemala.
The Philippines' power score is also better than the regional average of 1.94 in Asia-Pacific, placing the country in the second spot regionally.
The country's rise in the rankings is credited to its effective implementation of energy policies, including feed-in tariffs, net metering, import and value-added tax incentives, priority grid access and RE certificates.
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