, Philippines
214 views

Solar, Wind to lead renewables growth in the Philippines

The non-hydropower renewables are expected to grow by 6.8GW. 

The solar and wind sector will lead the growth of renewable energy in the Philippines in the next ten years, Fitch Solutions reported. 

Between 2022 and 2031, the country’s non-hydropower renewable source is expected to grow by 6.8 gigawatts, or at an average rate of 10.4% annually. This is more than the projected 5.8GW increase in thermal power.

The report noted that solar power will account for about86% of the net non-hydropower renewable capacity growth, whilst some 10% will be contributed by onshore wind power. 

Read more: Solar Philippines unit secures over 2000-hectare landbank

This growth is largely supported by the Philippine government’s goal to increase renewable electricity’s share in its power mix by 35% and to grow its renewable capacity by 15.3GW by 2030. 

“Within our Key Projects Database, there are already 127 non-hydropower renewable power projects in development, totaling 21.4GW in capacity, 78 of which are solar PV projects,” the report read in part. 

Just last June, the Philippines’ energy department launched its first round of renewable project tenders with a total of 2GW.

“We expect more such tenders to be launched whilst increasing demand for renewable power projects is signalled by interest from the domestic and international private sectors.”

 

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!