Singapore’s IPP platform athein, established recently as a Joint-Venture partnership between four Southeast Asian companies, is currently developing over 500 MWp of utility-scale and commercial and industrial solar power across the Philippines. The company aims to reach 2 GWp of operating projects by 2030.
“Philippines’ new administration sends some game-changing signals to the industry. President Marcos shows a clear commitment towards renewable energy and with foreign ownership bottleneck solved, we will see an exponential growth of domestic and foreign investment in the country” commented athein’s Co-Founder and CEO – Milan Koev.
The Philippines (together with Singapore) is among the most liberalized power markets in ASEAN, however, the country is also leading the race of the highest retail electricity tariffs in the region. The country’s plans to add 20 GWp of renewable energy by 2030, coupled with abundant irradiation areas and faster growth of power demand, translate into enormous potential.