Manila: Singaporean businesses are strengthening their tie-up with Philippine counterparts given the attractiveness of the Philippines’ energy sector, an official of the Sustainable Energy Association of Singapore (SEAS) said.

According to Philippines News Agency, SEAS Executive Director Kavita Gandhi noted during an interview on the sidelines of the Singapore International Energy Week (SIEW) that there are investors actively considering the Philippines. Gandhi remarked on the high tariffs in the Philippines, which she said are comparable to those in Singapore, creating opportunities for renewable energy ventures.

Despite concerns over regulatory challenges in the Philippines, Gandhi emphasized that investor interest remains strong. SEAS, as a Singapore-based group, focuses on facilitating interactions between Singapore and Philippine companies rather than lobbying for regulatory changes.

While specific investment figures were not provided, Gandhi highlighted that Singapore-based businesses are seeking “bankable projects” in the Philippines, driven by green and sustainable capital interests. Investment decisions, she added, are based on the availability of promising opportunities.

The interest in energy collaboration was further underscored during a visit by Singaporean Prime Minister Lawrence Wong to the Philippines, where he and President Ferdinand R. Marcos Jr. announced plans to enhance bilateral and regional relations to achieve the goals of the ASEAN Power Grid (APG). This includes Singapore’s investment in Philippine renewable energy sectors, particularly solar and wind projects.

In a related development, Energy Secretary Sharon Garin addressed the SIEW, stressing the importance of cooperation among ASEAN members to achieve the APG’s objectives. She underscored the vision of an interconnected regional power system to meet growing energy demands while ensuring reliability and affordability.

Garin argued that achieving an interconnected energy system requires more than just building physical links. She called for aligning national policies, harmonizing technical standards, and establishing clear investment frameworks to enable seamless cross-border energy operations across ASEAN nations.