Photo credit: PNA

The Philippines is drawing heightened interest from British renewable energy (RE) firms, particularly for offshore wind projects, the British Embassy in Manila said.

“Everyone’s looking at the Philippines, everyone’s taking notice of the Philippines now, and it’s just making sure that those opportunities are shared with the right people,” Lloyd Cameron, economic and climate counsellor at the embassy, said during the clean energy transmission hosted by the British Chamber of Commerce Philippines in Makati City on September 18, as reported by the Philippine News Agency.

Cameron highlighted that UK investors are exploring not only offshore wind but also nuclear energy, including small modular reactors. “Offshore wind, absolutely, because the UK is one of the world leaders in offshore wind, and that has led to the development of a really strong UK supply chain and really strong UK expertise that these companies and firms are looking to export,” he said.

He noted that investors are also drawn by the Philippine government’s policies supporting RE growth. “A government is in place that is sending a really strong signal to the market that it wants to grow renewable energy capacity, and that the Philippines is open for business and open for investment,” Cameron said, citing reforms such as the green-lane permit system, longer leases for investors, and right-of-way adjustments.

According to the embassy, if the UK emerges as a top source of foreign direct investment (FDI) in the Philippines, renewable energy projects will be the primary driver. “It may not be this year, but I’m sure that there are investors looking at big projects here, if not this year, next year, or down the line,” he added.

Last year, the UK accounted for 35% of the Philippines’ FDI net inflows, totaling USD 8.93 billion, with the bulk directed to renewable energy. British-backed initiatives, including the UK Export Finance program and the UK Investment Partnerships, have unlocked billions for Philippine infrastructure, digitalization, and green energy.

Cameron emphasized the collaborative potential of Philippine businesses and government. “It’s a whole-of-government approach, and then it’s the passion and the ingenuity of Philippine businesses as well, who can be partners in that,” he said.

How do you see UK investments influencing the Philippines’ renewable energy sector? Share your insights and perspectives on offshore wind and emerging RE opportunities.

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