ASEAN energy ministers agreed to set a target of 23% share of renewable energy in total primary energy supply in the region and 35% in ASEAN installed power capacity by 2025. This would require approximately 35GW-40GW of renewable energy capacity to be added by 2025. Solar PV and hydropower are expected to support the majority of this renewable-led transition.
Under the National Renewable Energy Plan (NREP) 2020–2040, the Philippine government targets to have at least 34GW of renewable energy installations by 2040. The government’s plan to open renewable energy for 100% foreign ownership is also expected to attract foreign investment in the Philippine renewable energy infrastructure.
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