The Philippines' substantial untapped wind and solar energy resources took center stage at the Philippine Renewable Energy Forum 2023, as a representative from China Power Engineering Consulting Group Co., Ltd. (CPECC) emphasized the country's potential in the renewable energy (RE) sector.
CPECC General Manager Chen Jiping underscored the wealth of renewable energy resources in the Philippines during the forum. This valuable event delved into cutting-edge RE technologies, including floating photovoltaic (FPV) systems, energy storage solutions, and smart microgrids. It also addressed critical challenges facing the RE industry in the Philippines, such as the application of FPV in marine environments, offshore microgrid technology, and insurance solutions for extreme weather events.
The collaboration between China and the Philippines in clean energy has become a pivotal aspect of their bilateral relationship. CPECC, renowned for its expertise in RE construction, has offered comprehensive solutions to Philippine companies looking to invest in and develop clean energy projects.
Over the past decade, as part of the “Belt and Road” initiative, CPECC has engaged in cooperation with Philippine partners on more than 30 design, consulting, and engineering projects, benefitting local communities.
Aligned with President Ferdinand R. Marcos Jr.'s commitment to renewable energy, the Philippines has set ambitious targets, aiming for renewables to constitute 35 percent of its power mix by 2030 and 50 percent by 2040. To facilitate this transition, the country has opened its doors to foreign investments in renewable energy projects, leading to numerous active initiatives encompassing various RE sources.
In 2022, Trade Secretary Alfredo Pascual sought legal clarification from the Department of Justice, confirming that natural resources are not subject to constitutional restrictions on foreign ownership.
