Report
Published:
The Philippines: How to Leapfrog from a Complicated Renewable Energy Sector to an Attractive One
Written by
Roman Vakulchuk
Senior Research Fellow, Head of Research group on climate and energy
Indra Overland
Research Professor
Haakon Fossum Sagbakken
Former employee
Hoy-Yen Chan
Muhammad Rizki Kresnawan
Monika Merdekawati
Ed.
Summary:
The Philippines set the target of increasing the share of renewable energy in its energy mix from 16.9% in 2019 to 26.9% by 2030. This ambitious target requires significant additional investment in renewable energy. It has been estimated that the Philippines could attract USD 20 billion in renewable energy investment through auctions between 2020 and 2030. To achieve this, the investment climate for renewables needs to be improved. Over the last few years, other ASEAN countries such as Vietnam, Malaysia and Thailand have been viewed as more attractive markets by foreign investors. We propose five actions that can improve the attractiveness of Philippines’ investment climate for renewable energy and help it join the regional race for investment: prioritise renewables in the energy governance system; enforce existing regulatory and fiscal policies; raise the targets and develop an investment roadmap; facilitate market entry for renewable energy investors; build capacity for renewable energy governance.
- Published year: 2020
- Publisher: ASEAN Centre for Energy (ACE)
- Page count: 3
- Language: English
- Journal: ACE Policy Brief Series
- URL 1: https://www.researchgate.net/publication/341794159
- URL 2: https://www.academia.edu/43231766/The_Philippines_How_to_Leapfrog_from_a_Complicated_Renewable_Energy_Sector_to_an_Attractive_One
- URL 3:
Written by
Roman Vakulchuk
Senior Research Fellow, Head of Research group on climate and energy
Indra Overland
Research Professor
Haakon Fossum Sagbakken
Former employee
Hoy-Yen Chan
Muhammad Rizki Kresnawan
Monika Merdekawati