PH Regains Allure As ‘Hot Market' For RE Investments In Asia

Manila Bulletin|July 14, 2020

PH Regains Allure As ‘Hot Market' For RE Investments In Asia
The Philippines is seen regaining its allure as a “hot market” for renewable energy (RE) investments in the Asian region and that shall be ushered in by the government’s implementation of the Renewable Portfolio Standards (RPS) policy.
Myrna M. Velasco

The RPS edict requires distribution utilities to secure fraction of their supply from RE capacities – and that shall be escalating at 1.0 percent increment yearly until 2030 when the share of RE in the country’s energy mix is targeted to reach 35 percent.

Eric Francia, president and CEO of AC Energy, Inc. of the Ayala group, opined that “the Philippines will get back on track in terms of being a ‘hot market’ in terms of renewables expansion.”

At the recent “Innovation in Energy “forum of the Philippine Energy Independence Council (PEIC), he noted that while the Philippines’ honeymoon with feed-in-tariff (FIT) incentives had been practically over, “the next policy mechanism that will unlock the potential of renewables in the Philippines is the RPS which is enshrined in the RE Law.”

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July 14, 2020