Thai renewable energy company Sermsang Power Corp. Public Co. Ltd. is studying further expansion in the Philippines, according to a report by BusinessWorld , citing the International Finance Corp. (IFC).
The planned expansion is part of Sermsang Power’s strategy to boost its Southeast Asian portfolio. The IFC noted that the move signals continued foreign investor interest in the Philippines’ renewable energy sector.
The Philippines has been pushing to increase its clean energy capacity, with targets to raise the share of renewables in the power mix. Foreign firms like Sermsang Power are eyeing opportunities in the country’s growing renewable energy market.