PH seeks Japanese RE investment

The Department of Energy (DOE) is actively seeking more investors from Japan to bolster the Philippines' renewable energy (RE) sector.

- By GABRIELL CHRISTEL GALANG

On Friday, Sept. 12, Energy Secretary Sharon Garin detailed potential partnerships to attract Japanese interest as the Philippines aims for a 35 percent RE share in its energy mix by 2030 and 50 percent by 2040.

To achieve these goals, Garin said the country is looking to increase investments in solar, wind, and geothermal projects, as well as integrate advanced grid technologies to support both current and future developments.

As the government prepares for the fifth Green Energy Auction (GEA-5) for offshore wind (OSW) projects, Garin said the DOE is also encouraging Japanese investors to help develop port facilities crucial for unlocking an estimated 178 gigawatts (GW) of OSW capacity.