Philippine renewable projects draw $5.72b in investments

Thirteen projects grabbed nearly all fast-track investment funds in under five months.

The Philippines’ Department of Energy (DOE) said the Board of Investments (BOI) certified 13 renewable energy (RE) projects under the Green Lane programme in the first five months of 2026.

The projects carry a combined value of $5.72b (PHP344.62b) and account for 99.6% of the $5.74b (PHP346b) in total Green Lane-certified investments during the period.

“The $5.74b (PHP346b) that investors are committing to RE under the Green Lane is proof that the Philippines is a destination for clean energy business, and that Filipino workers will be the first to benefit,” Energy Secretary Sharon S. Garin said.

The projects are expected to generate 38,716 direct jobs, representing 99.7% of the 38,818 total jobs linked to Green Lane approvals.

The department said the projects will add generation capacity to meet rising electricity demand linked to economic growth and household electrification.

It said it will work with government agencies, local government units, and stakeholders to support project development through to commercial operation.

The Green Lane took effect in February 2023, with BOI certifying 237 projects worth $104.81b (PHP6.32t), with an estimated 420,037 jobs throughout the years. Of these, 182 RE projects account for $89.72b (PHP5.41t).

The DOE reaffirmed its commitment to reaching the Philippines’ renewable energy targets of 35% by 2030 and 50% by 2040.

(US$1 = PHP60.30)