The Government of the Philippines targets 52.83 GW of RE capacity by 2040

The Government of the Philippines is aiming to increase renewable energy (RE) capacity, targeting 52.83 GW by 2040. This is in line with the Department of Energy’s (DOE) move to raise the renewable portfolio standard (RPS) to 2.52 per cent.

This initiative aligns with the National Renewable Energy Program (NREP), aiming for a 50 per cent RE share in the energy mix by 2040, which is estimated at 27.16 GW. This is followed by 16.65 GW of wind energy, 6.15 GW of hydro energy, 2.5 GW of geothermal energy and 364 MW of biomass energy.

As of January 2024, 1,282 contracts have been awarded, representing a potential capacity of 130.3 GW, of which 6 GW of RE projects are already operational. Around 71 per cent of the total contracts awarded are for solar and hydropower projects. Further, as of March 2024, 92 offshore wind contracts are issued representing a combined capacity of 65.05 GW.