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PH now 2nd in green energy market ranking

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THE Philippines has been ranked the second most attractive emerging market for renewable energy (RE) by a Bloomberg research unit, gaining two places in this year's Climatescope report from fourth place in 2023.

THE Philippines has been ranked the second most attractive emerging market for renewable energy by a Bloomberg research unit, gaining two places in this year's Climatescope report from fourth place in 2023.Its score of 2.65 out 5 was better than the Asia-Pacific average of 1.94 and was also second in the region, Bloomberg New Energy Finance said.The result, Energy Secretary Raphael Lotilla said on Monday, highlighted the country's attractiveness as a green energy investment destination.

'Between 2018 and 2013, the highest investment in clean energy was in 2023 at $1.981.08 million, while the lowest was in 2018 with $130.24 million,' it added.The average electricity price, meanwhile, rose to $187.60 per megawatt-hour in 2023 from $163.86/MWh a year earlier, with the average over 2017 to 2023 having fluctuated between $122.29-187.60/MWh.

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PHL 2nd most attractive RE emerging market, says Bloomberg reportTHE Philippines is this year’s second most attractive emerging market for renewable energy (RE) investments, according to the Bloomberg New Energy Finance (BNEF) Climatescope 2024 report.
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