Bataan Gov. Joet Garcia who had been pitching in for renewable energy (RE) in power generation mix was seen as in the right direction following report by BloombergNEF that Philippines has made a significant jump from 20th to second most attractive market for clean power investments.

In a lengthy report filed by Inquirer’s Lisbeth Ismael, quoting government officials, showed that they welcomed the 2024 Climatescope Report by BloombergNEF released earlier where Philippines overtook mainland China, one the world’s economic powerhouses. India claimed the prime spot, while Chile and Brazil completed the top five.

On top of improving the local business climate, the current administration has been strengthening its ties with investors to trigger more development in renewable energy, report said.
Christopher Chua, country head of Blueleaf Energy Philippines, said gaining the second spot was not bad, since the Philippines is already the leading nation in Southeast Asia, adding that “Philippines has an advantage versus other markets whose government leaders have control over utilities including power purchase agreements, which could be subject to a lot of control and corruption.”

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