The Philippines now allows for 100% foreign ownership of renewable energy projects for the first time following its signing of a circular amending the implementing rules and regulations (IRR) of the Renewable Energy Act of 2008.
Before the Department of Energy (DoE) amended the rules, foreign developers were limited to a 40% cap on their ownership of renewable energy projects.
The Philippines is now able to directly carry out the exploration, development, production and use of renewable energy, or sign contracts for renewable energy services or operations, such as solar and wind, with Filipino or foreign nationals or Filipino or foreign companies or associations with no foreign ownership limit.
