The Philippines is attracting growing interest from British renewable energy companies, particularly in offshore wind, according to the British Embassy in Manila.

“Everyone’s looking at the Philippines, everyone’s taking notice of the Philippines now, and it’s just making sure that those opportunities are shared with the right people,” said Lloyd Cameron, economic and climate counsellor at the embassy.

Cameron made the remarks during the clean energy transmission hosted by the British Chamber of Commerce Philippines in Makati City on September 18.

He said UK investors are exploring opportunities in offshore wind and nuclear energy, including small modular reactors.

“Offshore wind, absolutely, because the UK is one of the world leaders in offshore wind, and that has led to the development of a really strong UK supply chain and really strong UK expertise that these companies and firms are looking to export,” Cameron said.

He added that investors are encouraged by Philippine government reforms supporting renewable energy growth.

“A government is in place that is sending a really strong signal to the market that it wants to grow renewable energy capacity, and that the Philippines is open for business and open for investment,” Cameron said.

Among the reforms cited were the green-lane permit system, extended leases for investors, and adjustments in right-of-way rules.

The embassy noted that if the UK becomes a top source of foreign direct investment (FDI) in the Philippines, renewable energy projects will drive the inflows.

“It may not be this year, but I’m sure that there are investors looking at big projects here, if not this year, next year, or down the line,” Cameron added.

In 2024, the UK accounted for 35% of the Philippines’ FDI net inflows, totaling USD 8.93 billion, most of which went to renewable energy.

British-backed initiatives such as the UK Export Finance program and UK Investment Partnerships have already unlocked billions for Philippine infrastructure, digitalization, and green energy.

Cameron underscored the importance of collaboration with local firms.

“It’s a whole-of-government approach, and then it’s the passion and the ingenuity of Philippine businesses as well, who can be partners in that,” he said.

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