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The Department of Energy expressed support for the lifting of economic restrictions in the 1987 Constitution as 100-percent foreign ownership in the renewable energy industry has resulted in increased job generation.
She said around 357,459 individuals were employed in the RE sector in 2022, and using this figure, it is anticipated that there will be 10 direct jobs and 30 indirect jobs generated per megawatt . Garin said various foreign firms have already explored manufacturing opportunities in the Philippines, seeking sites to manufacture turbines and semiconductor controllers, with the goal of locally producing all manufacturing components, including plates, turbines, and towers.
Copenhagen Infrastructure Partners became the first foreign investor to be granted site exclusivity in the Philippines to develop a renewable energy project a few months after the implementing rules and regulations on RE were amended. It also became the first 100 percent foreign-owned company to be awarded a service contract in the country.
Garin also cited the Triconti ECC partnership, a Swiss-German-Filipino joint venture developing 1.6 GW of offshore wind capacity in Luzon and Visayas, potentially creating 3,600 direct and indirect jobs.
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