ACEN Corp. is expecting at least 700 megawatts (MW) of its solar and wind projects to start operations in 2023.
BRUNO VIEIRA-UNSPLASH
Mr. Francia said the facilities would help alleviate the supply pressure and also help the country achieve its renewable energy targets. The Philippines is targeting to increase the share of renewable energy in its energy mix to 35% by 2030 and 50% by 2040. “It is therefore critical to get the reserve market operational soonest. It is also critical to get the renewable energy market operational, especially given the upward adjustment in renewable portfolio standards ,” he said.
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