The Philippines has reiterated its commitment to accelerate renewable energy development at the 29th Council Meeting of the International Renewable Energy Agency (IRENA) held on September 11 in Abu Dhabi.

Philippine Ambassador to the United Arab Emirates and Permanent Representative to IRENA Alfonso A. Ver reported that renewable energy now accounts for 32% of the country’s installed energy capacity. He noted that IRENA and its partners provide opportunities for collaboration to help advance the Philippines’ energy transition objectives.

Deputy Head of Mission Arvic Arevalo presented the Philippine statement before the Council. He outlined the country’s roadmap of raising the share of renewables in the energy mix to 35% by 2030 and 50% by 2040. He also cited ongoing policy reforms and government initiatives that are driving growth in the sector.

These include the conduct of green energy auction rounds, the Philippine Offshore Wind Roadmap that identified six development zones with a combined potential capacity of 179 gigawatts, and the adoption of the Energy Virtual One-Stop Shop to streamline permitting and approvals. Arevalo also highlighted the liberalization of foreign ownership rules in renewable projects, which has already drawn USD5 billion in offshore wind investments.

According to Arevalo, these measures have contributed to the Philippines being ranked as the world’s second most attractive emerging market for renewable energy investments in the 2024 BloombergNEF Climate Report, a sharp increase from 20th place in 2021.

The Philippine delegation also included Department of Energy Solar Energy Management Division Chief Edward Neri and Political/Economic Attaché Farrel Rodrigo Bufete.

The IRENA Council meeting gathered more than 400 government officials and diplomats from 169 member countries and the European Union to provide strategic direction on the agency’s work program and address issues affecting the global energy transition.

How do you see the Philippines’ renewable energy roadmap shaping its role in the global energy transition?

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Photo Credit: DFA Website