The British Chamber of Commerce Philippines (BCCP) hosted its latest Trade & Connect forum, “Navigating the Future: Unlocking Sustainable and Green Investment Opportunities,” showcasing the country’s renewable energy future, goals, policy frameworks and investment potential.
KPMG sponsored the event, with Flat Planet as venue partner and Malaya Business Insight as media partner. Speakers included Department of Finance Undersecretary Maria Luwalhati C. Dorotan-Tiuseco, Department of Energy Assistant Secretary Mario Marasigan and Philippine National Bank Senior Vice President Jean Marie Baruelo.
Marasigan emphasized integrated energy storage systems and floating solar technology for grid stability. The DOE increased the Renewable Portfolio Standards mandate from 1% to 2.52% annually to accelerate the green transition.
“We are focusing on offshore wind, floating solar, and integrated energy storage systems to make this transition feasible,” Marasigan said.
The DOE is leveraging the Green Energy Option Program to allow consumers to source electricity directly from renewable suppliers and implementing the Energy Virtual One-Stop System to streamline project approvals.
“The energy transition does not call for an abrupt shift but a structured reengineering of our energy mix,” Marasigan stated. “We cannot stop conventional power overnight, but we can innovate to make it greener.“
DOE targets include increasing renewable energy’s share to 35% by 2030 and 50% by 2040, requiring 53,000 MW of additional capacity. Marasigan noted the Philippines’ offshore wind potential, with 68 GW worth of service contracts already issued.
Marasigan confirmed 1,200 MW of nuclear energy is being considered by 2032, pending congressional approval and regulatory development. Baruelo highlighted financing challenges, saying, “Government guarantees would make renewable energy projects more bankable. We need a whole-of-government approach to fast-track implementation.“
BCCP Executive Chairman Chris Nelson emphasized the UK’s expertise in offshore wind and green financing, highlighting the Philippine Economic Zone Authority’s upcoming investment mission to the UK in June 2025. Nelson noted that the Philippines ranks as “the second most attractive developing economy for renewable energy investment.”
