Major European firms eyeing Philippine renewable energy market

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Major European firms in the renewable energy sector are looking at entering the Philippine market in the coming year, a top official of the European Chamber of Commerce of the Philippines (ECCP) said.

In an interview, ECCP President Lars Wittig said the companies are looking to penetrate the market as they want to expand their presence, being among the leaders of the billion-dollar industry.

In particular, Wittig cited offshore wind energy, which utilizes floating wind farms that are established on floating structures, harnessing the force of the wind which is said to be stronger at sea. Just last month the Department of Energy amended a section of the implementing rules and regulations of the Renewable Energy Act of 2008,

 

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