Philippines aims for 53 GW by 2040 under higher renewable portfolio standard

Burgos Wind Farm in Philippines. (Photo: Wikimedia Commons)

The Philippines would need 52.83 GW of renewable energy capacity by 2040, following the Department of Energy (DOE)’s increase of the renewable portfolio standard (RPS) to 2.52%.

"At the Philippine Electric Power Industry Forum 2024 held at the Iloilo Convention Center on April 5, DOE Assistant Secretary Mylene Capongcol said that the required capacity would be equivalent to 175 TWh of renewable energy generation."

According to Capongcol, the required capacity under the increased RPS is seven times the current level of 8.26 GW.

DOE’s No. 2022-09-0030 signed by Secretary Raphael Lotilla in Sep. 2022 directed utility frims to increase the mandated minimum portion of energy from renewables from 1% to 2.52% in 2023.

The policy aligns with the National Renewable Energy Program to reach the Philippines’s target of higher renewable energy shares to the energy mix by 2040 to 50%.

Capongcol mentioned that the DOE anticipates the majority of the renewable energy capacity by 2040 to come from solar technology, totaling 27.16 GW, followed by wind at 16.65 GW, hydro at 6.15 GW, geothermal at 2.5 GW, and 364 megawatts from biomass."

“As of January 2024, we were able to award 1,282 contracts with an equivalent potential capacity of 130.3 GW, and out of these have already constructed and installed, some of them operationalized around 6 GW of renewable energy,” she said.

The DOE official said that 71% of the 1,282 awarded contracts are solar and hydro power projects, and more than 60% of the potential capacity will come from offshore wind projects.

As of Mar. 25, the agency has issued 92 offshore wind contracts with a potential capacity of 65.05 GW, according to Capongcol.