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To build the world’s largest solar power project, Terra Solar, the Philippines' largest distribution company, Manila Electric Company (Meralco), established a strategic partnership with Actis of the UK on Sept. 6.

"The Philippines were ready to serve as the voice of the most vulnerable countries in the region and the world," Philippine Environment Secretary Toni Yulo-Loyzaga said on behalf of the president at the United Nations Framework Convention on Climate Chang

The Philippines government has clear policies for attracting investment in renewable energy, with a current prospective utility scale of 99 GW in wind and solar projects. However, the Philippines will need to overcome a series of challenges in its future

Philippine approved the construction of 16 offshore wind farms, with an estimated potential capacity of 7,668 MW. The one built in San Miguel Bay with an installed capacity of 1 GW is going to be the first and largest offshore wind farm in the country.

The largest and only solar irrigation system in the Philippines was officially inaugurated on June 10. The local government has applied renewable energy to agricultural projects, reducing the use of fossil fuels and lowering carbon emissions.

The renewable energy sector in the Philippines is experiencing a significant boom. Citicore Renewable Energy Corporation is expected to raise 5.3 billion pesos (about 90.4 million USD), potentially marking the largest renewable energy IPO in the country.

To improve power infrastructure, the Philippines is incorporating nuclear energy into its energy transition plans and set to become a base for the U.S. Civil Nuclear Work Group in Southeast Asia.

Training projects are benefiting the renewable energy sectors of Belt and Road countries. In the autumn of 2023, 18 Filipino students, with ages ranging from 17 to 22, came to China to start a course in “new energy engineering”.

Security Bank has partnered with climate fintech firm Helios to enhance access to clean energy for Filipino homeowners. The two firms signed a memorandum of agreement last month to alleviate financial pressure on households facing increased power costs.

The Philippine province of Cebu has agreed to provide its plastic wastes for APO Cement Plant as this will be a promising economic enterprise to the local government.