Philippines emerges as S-E Asia's renewable power pacesetter

The Philippines has leapfrogged its South-east Asian neighbours to become a regional leader in planned clean-power projects as fewer investment restrictions and green-minded policies attract domestic and foreign cash.

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Changes including allowing full foreign ownership of renewable energy projects have already helped secure a pipeline of 99 gigawatts (GW) of wind and solar developments. That is more than enough power to supply all Philippine households, and is ahead of Vietnam's 86GW and about five times higher than in Indonesia.

The energy transition in coal-dependent emerging nations like the Philippines will determine the success of global efforts to hit net-zero targets and curb the worst impacts of climate change.

Many middle-income nations are struggling, however, to balance the shift away from fossil fuels with growing energy demand and the need for economic growth.

Only 3 per cent of the Philippines' ambitious renewables pipeline is currently under construction. But it is a step towards meeting the country's goal of boosting the share of renewables in its electricity mix to more than a third by the end of the decade from about a fifth now.

At a clean energy forum in Manila in May 2024, companies like Oslo-based renewables developer Scatec were enthusiastic about the Philippines' potential, especially in contrast with its neighbours, where funding and regulatory issues have held back progress.