The Philippine Economic Zone Authority (PEZA) has approved P97 billion worth of renewable energy (RE) investments, as reported by Philstar Biz. The approvals reflect sustained investor confidence in the country's energy sector.
PEZA Director General Charito Plaza attributed the surge to the agency's streamlined registration process and the government's push for cleaner energy sources. The investments cover solar, wind, and hydroelectric projects across various ecozones nationwide.
The milestone comes as the Philippines aims to increase the share of renewables in its power generation mix to 35% by 2030. Industry analysts noted that the approved projects could help reduce the country's reliance on imported fossil fuels and support long-term energy security.