Philippines: DOE Preparing Amendments to Renewable Energy Act

The Department of Energy said over the weekend it is preparing the proposed changes in the implementing rules and regulations of the Renewable Energy Law to address the 40-percent equity limit on foreign investors.

The DOE said the DOJ opinion meant that foreign ownership restrictions that hamper the flow of investments in the RE sector may now be relaxed.

“This will certainly contribute to our target share of renewable energy in the power generation mix of 35 percent by 2030 and 50 percent by 2040.”

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