By Tracy Cabrera
Informa Markets Philippines country manager ‘Rose’ Chitanuwat. (Photo from LinkedIn)
PASAY CITY, Metro Manila — With the government leading the way in implementing initiatives to respond to global energy shocks, trade exhibitor Informa Markets forecasts the local renewable energy (RE) sector to register considerable growth at a compound annual growth rate (CAGR) of 8.06 percent in a span of eight years, reaching approximately US$41.87 billion by 2034.
According to Informa Markets Philippines country manager Rungphech ‘Rose’ Chitanuwat, this growth would be largely driven by the Department of Energy (DoE)’s Green Energy Auction Program, which aims to add 25 gigawatts of renewable capacity by 2035.
Informa Markets is a global innovator that manages business-to-business (B2B) events in several countries in Southeast Asia with the commitment of helping specialist markets to innovate by enabling businesses to connect with customers, trade exhibitor Informa Markets has.
“The energy sector in Asia faces unprecedented challenges such as rising oil prices, increasing electricity costs and the global energy crisis. The Philippines is no exception,” Chitanuwat pointed out.
However, a report from the Massachusetts-based management consulting firm Bain & Company and Standard Chartered has shown that Southeast Asia’s green economy is estimated at US$290 billion today and is on track to reach US$430 billion by 2030, reflecting a growth of 8 percent to 9 percent annually.
The report also showed that 50 percent of green investments that went into Southeast Asia were for power and grid projects, signifying the region’s shift to RE.
Chitanuwat cited the expected growth potential of the Philippine RE sector; she sees the holding of this year’s PhilEnergy Expo at the World Trade Center in Pasay City from June 24 to 26 as very timely.
“I see that PhilEnergy 2026 is more important than ever as it provides a platform for stakeholders to come together, exchange ideas and explore innovative solutions that will shape the future of energy in the Philippines,” she noted.
Informa Market’s top executive in the Philippines also disclosed that as the country confronts national issues such as rising oil prices, increasing electricity costs and the ongoing global energy crisis, the PhilEnergy Expo would inspire discussions, foster actionable solutions and strengthen collaboration among RE stakeholders.
“The event will highlight the critical role of RE in addressing the challenges while enhancing the Philippines’ energy system, which remains heavily reliant on imported fossil fuels,” she enthused.
Among the highlights of the upcoming World Trade Center expo is the BiGSHOW organized by the developers of Renewable Energy for Advancement Incorporated, which will bring together leaders from six major renewable energy sectors to share cutting-edge insights, innovations, and strategic directions shaping the future of sustainable energy in the Philippines.
ia/xf
