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