COTABATO CITY - The Ministry of Environment, Natural Resources, and Energy (MENRE) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), led by Minister Akmad A. Brahim, actively participated in the Renewable Energy Investment Forum organized by the Department of Energy (DOE) on February 13 in Bonifacio Global City, Taguig City.
The forum, themed "Powering Confidence," brought together policymakers, regulators, investors, financiers, and industry leaders to discuss strategies for accelerating renewable energy investments in the Philippines.
During the gathering, the DOE outlined its ambitious targets of achieving a 35 percent share of renewable energy in the country's energy mix by 2030 and 50 percent by 2040.
The DOE also presented its Renewable Energy Outlook Compendium, which details structured pathways for investment, including capacity sales, renewable energy certificates, and other incentives.
The forum also addressed the current state of renewable energy in the Philippines, which accounted for approximately 25.4 percent of the total power generation in 2023. Solar and wind energy were identified as having significant potential, alongside the presentation of the Green Energy Auction Roadmap – a 10-year plan aiming to establish 25 gigawatts of installed capacity by 2035, encompassing offshore wind, waste-to-energy, and solar-plus-storage projects.
Brahim actively participated in the discussions, particularly focusing on the bankability of renewable energy projects and potential opportunities within the BARMM. He emphasized the importance of microgrids and expanding access to renewable energy for underserved communities in the Bangsamoro.
The forum highlighted the significance of spatial planning and a whole-of-government approach, including strategic maps identifying renewable energy zones and potential investment areas. Various financing mechanisms such as equity, green bonds, and specialized energy loans were also discussed to address the substantial funding required for renewable energy investments leading up to 2050.
According to the MENRE, their participation in the forum demonstrates the BARMM's continued commitment to supporting national energy transition goals.
Brahim reiterated that the region is prepared to explore and promote renewable energy projects that will not only contribute to national objectives but also expand access and opportunities for communities in the Bangsamoro.
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