EMPOWERING THE PHILIPPINES THROUGH RENEWABLES AND GRID DEVELOPMENT  
 
WHAT 
  • The Philippines is at a pivotal moment in its energy transition, driven by rising electricity costs, energy security concerns, and the urgent need to modernize its power system. The country remains heavily dependent on imported coal, which accounts for around 60% of electricity generation, resulting in some of the highest electricity prices in Southeast Asia (only behind Singapore). Energy access is also uneven, particularly in off-grid communities where limited supply leaves approximately 468,000 households without reliable electricity.
  • Despite this, Philippines has immense renewable energy (RE) potential. It is the world’s third-largest producer of geothermal energy, just after the United States and Indonesia, and possess substantial untapped resources in solar, wind, and hydropower. The estimated untapped potential of renewable energy in the country is 178 GW for offshore wind, 122 GW solar, and 650 GW hydropower, making the country a high-growth market for RE.
  • The government has demonstrated firm commitment to make the country a RE powerhouse, through the National Renewable Energy Program (NREP) 2020–2040, which targets ambitious goals of achieving 35% renewable energy in the power mix by 2030 and 50% by 2040. With this, they have developed a comprehensive package of fiscal and non-fiscal incentives for companies, including income tax holidays, duty-free importation of equipment, VAT exemptions and tax credits, and streamlined permitting processes.
  • The opportunity is ripe to introduce advanced, low-carbon energy technologies and smart grid solutions that address affordability and reliability, particularly in rural and off-grid communities. With recent policy reforms allowing 100% foreign ownership of RE projects, this creates a strong demand for international partners with proven expertise in clean energy and energy modernization programs.

 

HOW 
  • Partner with local developers and utilities to deploy advanced heating and cooling solutions, low-carbon energy applications, and grid-enhancing technologies, particularly in rural communities.
  • Optimize and expand geothermal and hydropower assets, leveraging Swedish expertise to maximize output and resilience.
  • Modernize the electricity grid through smart grid technologies, microgrids for off-grid and island areas, and energy storage solutions to enhance reliability and efficiency.
  • Support long-term sustainability through training and knowledge-transfer programs, building local capacity to operate, maintain, and scale RE and smart grid systems.

 

CONTACT US 

For more information contact Johan Lennefalk at Johan.Lennefalk@business-sweden.se.