PH clean power generation to reach 69.4 TWh in 2035

The country’s renewable goals will be fuelled by geothermal and hydropower amongst others.

The Philippines’ renewable energy generation is projected to reach 69.4 terrawatt-hours in 2035, with a compound annual growth rate of 13.1% from 2024 to 2035.

According to GlobalData’s latest “Philippines Power Market Outlook to 2035, Update 2025 – Market Trends, Regulations, and Competitive Landscape,” the country is seeing a consistent rise in electricity demand, thanks to economic growth, and broadening of digital infrastructure.

“In response to this escalating need, the nation is executing a range of strategies, which include the development of infrastructure, diversification of energy sources, and the enactment of policy reforms,” said Attaurrahman Ojindaram Saibasan, senior power analyst at GlobalData.

The Philippines is targeting 35% renewable energy generation by 2030, increasing this to 50% by 2040.

In 2035, GlobalData said thermal power is expected to continue to account for a 62.7% share in the country’s generation mix, followed by renewables and large hydro and pumped storage accounting for 33% and 4.3%, respectively.

The Philippines is focusing on a 75% increase in geothermal capacity, a 160% rise in hydropower capacity, an expansion of wind power to 2.3 gigawatts (GW), and an increment of biomass power by 0.3 GW, all by 2040, GlobalData noted.

Between 2025 and 2030, Manila is expected to secure a $26.2b energy investment, of which solar will account for 38.8%, followed by onshore wind accounting for 19.4%, and offshore wind power for 17%.