China Power Engineering Group Sees Enormous Renewable Energy Potential In The Philippines

A representative from China Power Engineering Consulting Group Co., Ltd. (CPECC) highlighted the Philippines’ significant potential in renewable energy (RE) during the Philippine Renewable Energy Forum 2023. CPECC General Manager Chen Jiping emphasized that the Philippines possesses substantial untapped wind and solar energy resources.

The forum centered on advancements in cutting-edge technologies in the RE sector, including floating photovoltaic (FPV), energy storage, and smart microgrids. It also addressed key challenges facing RE in the Philippines, such as applying FPV in marine environments, offshore microgrid technology, and insurance solutions for extreme weather events.

Cooperation between China and the Philippines in clean energy has become a vital aspect of their bilateral relationship. CPECC, with its expertise in RE construction, has offered integrated solutions to Philippine companies for investing in and developing clean energy projects.

Over the past decade, as part of the “Belt and Road” initiative, CPECC has collaborated with Philippine partners on over 30 design, consulting, and engineering projects in the Philippines, benefiting local communities.

In line with President Ferdinand R. Marcos Jr.’s commitment to renewable energy, the Philippines aims to achieve a 35 per cent share of renewables in the power mix by 2030 and 50 per cent by 2040. The country has opened renewable energy projects to foreign investments, with numerous active projects spanning various RE sources.

In 2022, Trade Secretary Alfredo Pascual initiated a legal opinion from the Department of Justice, clarifying that natural resources are not subject to constitutional restrictions on foreign ownership.

This collaboration underscores the Philippines’ dedication to harnessing its RE potential and promoting clean energy in partnership with international experts.