PH renewable energy pipeline hits 120 GW

The Philippines has secured 120 gigawatts (GW) of “indicative and committed” renewable energy (RE) capacity, reflecting growing investor confidence in the country’s long-term energy transition.

Energy Undersecretary Mylene Capongcol on Tuesday said the Department of Energy (DOE) said this pipeline followed key policy reforms, including the full opening of the renewable sector to 100-percent foreign ownership.

“This level of investor interest is unprecedented and we would like to thank you all for that. However, interest alone does not build power plants, execution does,” Capongcol said, emphasizing the need to close the gap between project approval and actual delivery.

The DOE is pushing to achieve a 35-percent renewable share in the power mix by 2030 and 50 percent by 2050.

Offshore wind is expected to play a pivotal role, with 19 GW already identified under initial targets and up to 50 GW under the DOE’s clean energy scenarios.

Capongcol stressed that these figures “are not abstract,” noting their potential to spur jobs, economic activity and long-term price stability for Filipino consumers.

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The latest data also reflected broader investment momentum across the energy sector, the agency noted.

A separate statement from the department highlighted that power and electricity accounted for 58.74 percent of all Board of Investments (BOI) approvals from January to November 2025, equivalent to P479.78 billion in committed projects.

Energy Secretary Sharon Garin said the strong investment inflow affirmed confidence in the Philippines’ long-term growth trajectory.