The Philippines has surpassed its neighbors in Southeast Asia to become a regional leader in planned clean energy projects as fewer investment restrictions and greener policies attract domestic and foreign money.
Changes, including allowing full foreign ownership of renewable energy projects, have already helped secure a 99 gigawatt pipeline of wind and solar projects. That is more than enough power to supply all Philippine households, and is ahead of Vietnam at 86 gigawatts and about five times higher than Indonesia.
The energy transition in coal-dependent emerging countries such as the Philippines will determine the success of global efforts to meet net-zero targets and curb the worst impacts of climate change. However, many middle-income countries are struggling to balance the shift away from fossil fuels with growing energy demand and the need for economic growth.
