The Government of the Philippines will require a total investment of PHP5.76 trillion to expand the country’s power supply in order to meet energy demands through 2040. According to the Department of Energy’s (DOE) Philippine Energy Plan (PEP) 2020-2040, around 82 per cent of the target investment under the Clean Energy Scenario (CES) will be allocated to renewable energy (RE) generating facilities, with RE accounting for the majority of the Philippines’ power supply sources by 2040.
The transmission sub-sector will need at least PHP348.3 billion in investments over the next ten years to repair, upgrade and create new substations, transmission backbones, and island linkages.
By 2030, the Philippines’ power generation mix is expected to have a 35 per cent RE share, and by 2040, it’s expected to have a 50 per cent RE share.
