The Philippines is embarking on an ambitious energy transition—with renewable power at the forefront. By 2030, the country aims for 35% of electricity from clean sources, rising to 50% by 2040. From offshore wind and solar to hydro and geothermal, the market is rich with opportunity.

Now permitting 100% foreign ownership of renewable energy projects, the Philippines has become one of Asia’s most accessible and promising green investment destinations. According to BloombergNEF, it ranks as the 2nd most attractive emerging market for renewables in 2024.

Key highlights include:

Over 178 GW of offshore wind potential, with 60+ GW already approved

Rapid growth in geothermal, floating and rooftop solar and micro-hydro

Generous incentives: tax holidays, carbon credit exemptions and 20-year fixed tariffs under the Green Energy Auction Scheme

While regulatory and infrastructure hurdles remain, the long-term investment outlook is exceptionally strong. Explore why global firms are turning their attention to the Philippines’ clean energy future.
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