First Gen Corp. President and Chief Operating Officer Francis Giles B. Puno called for stronger policy alignment, streamlined regulation, and consistent execution to accelerate the Philippines’ renewable energy (RE) transition. He warned that gaps between targets and implementation risk slowing progress toward the country’s 2030 goals.

Speaking at the Renewable Energy Conference on August 8 and held at City of Dreams Manila, Puno said the Philippines is at a “moment when the momentum for renewable energy is no longer just building, but accelerating.” He stressed that the national energy plan must evolve to match the pace of innovation, investment, and climate urgency.

He reiterated First Gen’s recommendations to “strongly back renewable energy with policy and execution support,” “clearly define the role of natural gas as a transition fuel,” and “adhere to the coal moratorium policy and progressively reduce coal reliance.”

Despite global trends showing coal capacity being canceled or replaced by cheaper solar-plus-storage solutions, coal still accounts for 62% of the Philippine energy mix. Puno cited policy loopholes and exemptions, such as “grandfathering in” older project approvals, as undermining investor confidence and prolonging reliance on the “single most polluting energy source in the world.”

“This isn’t a gap in ambition, but a gap in execution,” he said, noting that less than 10% of awarded RE projects under the Green Energy Auction Program (GEAP) are under actual development.

Puno highlighted First Gen’s recent strategic pivot, including the sale of 60% of its natural gas business to Prime Infra to sharpen its focus on renewables, while also retaining gas as a complementary balancing fuel.

The company, the country’s largest RE producer with a zero-coal portfolio, is investing in geothermal, hydro, solar, wind, and battery storage projects. Geothermal, which Puno called the Philippines’ “greatest strategic advantage” in clean energy, remains the cornerstone of its portfolio. Geothermal provides round-the-clock baseload power without relying on imported fuel.

Recent developments include the 29-megawatt (MW) Palayan Bayan Binary plant, the 22MW Tanawon project in Luzon, and the upcoming 28MW Mahanagdong expansion in Leyte. The firm is also advancing about 320MW of renewable baseload capacity by 2030 and upgrading hydro plants for greater grid flexibility.

Puno also urged deeper collaboration among government, regulators, and industry players to ensure energy policies reward innovation and sustainability, not just to the lowest bid. He also pushed for long-term offtake mechanisms, credit enhancements to de-risk investments, and unlocking full Retail Competition and Open Access more than two decades after its legislation.

“If we continue to use coal, we will undo the very progress we are here to celebrate today,” Puno said, adding that “the energy trilemma is no longer a trade-off” as customers, investors, and developers increasingly choose clean energy “not out of compliance, but conviction.”

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