Indo-Pacific coalition prioritises PH for energy infrastructure investment

The country will need an estimated $500b in investments between 2024 and 2050.

The Coalition for Emerging Market Infrastructure Investment’s (CEMII) will prioritise the Philippines' energy sector for infrastructure investment within Indo-Pacific Economic Framework (IPEF) economies.

The Indo-Pacific Partnership for Prosperity (IP3) identified the country as an ideal market due to its rapidly growing energy demand and ambitious renewable energy targets. The coalition aims to implement strategies that facilitate large-scale, rapid capital deployment, IP3 noted.

With energy consumption in the Philippines projected to grow by 3% annually until 2050, the country will require an estimated $500b in investments between 2024 and 2050 to ensure a successful clean energy transition.

Co-chaired by Global Infrastructure Partners and KKR, the CEMII includes members such as Allied Climate Partners, BlackRock, Brookfield, GIC, The Rockefeller Foundation, and Temasek.

The Department of Energy welcomed the initiative, highlighting its alignment with the Philippines’ energy transition goals toward a more sustainable, clean, and resilient energy sector. It also expressed willingness tocollaborate with the coalition to identify mutual interests and develop a joint roadmap to accelerate clean energy infrastructure investments.