Philippines endorsed by HSBC Global Research as 2nd out of 6 investment destinations for renewable energy in SEA

In a recent report, HSBC Global Research endorsed the Philippines as the second best investment destination for renewable energy (RE) in Southeast Asia behind only Vietnam and ahead of Singapore, Malaysia, Indonesia, and Thailand. The rankings were determined by a country’s entry barriers and regulatory environments with regards to RE investments.

HSBC noted the Philippines’ declining equipment costs and improved regulations as the major forces driving inclusive development in the region.

“Solar module prices in 2020 were 89% lower than a decade ago, and are forecast to drop another 27% by 2025. The price of wind turbines in 2020 was down 41% in 2010, and is expected to fall another 18% by 2025,” it said. (via Business World)

HSBC also highlighted the renewable portfolio standards (RPS) program in the Philippines, stating that “governments are either in the process of defining policies or have already stated clear regulatory policies related to renewables to attract further investments.” (via Business World)

HSBC also expects other costs in renewable projects to reduce marginally due to green financing and continued technological advancement.

Source: Business World