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The Philippines would need half-a-trillion dollars worth of investments to attain substantial clean energy transition, according to Energy Secretary Raphael Lotilla.The government is targeting to increase the renewable energy’s share in the country’s power mix to 35% by 2030 and raise it further to 50% by 2050.
”As of end-2023, the total share of renewable energy in the grid —comprising of hydro, geothermal, wind, biomass, and solar— stood at 29.7%.Coal, however, still dominates the power mix at 43.9% share.The Philippines was recently selected by global fund Coalition for Emerging Market Infrastructure Investment as its initial focus market for infrastructure investment across the Indo-Pacific Economic Framework economies.
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