The National Renewable Energy Program (NREP) 2020-2040 aims to increase the renewable energy share in the Philippines' power generation mix to 35% by 2030 and 50% by 2040. The program highlights ongoing investments, projects, and policies to enhance renewable energy capacity, including easing foreign ownership restrictions and promoting diverse energy sources like solar, wind, and biomass. As of September 2022, 1,016 renewable energy projects have been awarded contracts, contributing to an installed capacity of 5,471.04 MW and potential growth to 64,817.45 MW.