SINGAPORE — The Philippines is among the countries best positioned to help meet Asia’s rapidly growing electricity needs, with its rich geothermal resources as well as expanding wind and solar sectors offering significant potential for renewable energy (RE) development, according to International Finance Corp. (IFC).

Speaking at the Asia Infrastructure Forum (AIF) 2026 on Tuesday, June 16, IFC managing director Makhtar Diop urged faster development of RE sources across the region, noting that Asia possesses abundant clean energy resources but must strengthen connectivity, financing, and market frameworks to unlock their full potential.

Diop noted that the Philippines and Indonesia sit above some of the world’s richest geothermal reserves.

He also cited the Philippines, alongside India and Vietnam, as one of Asia’s emerging wind and solar markets.

“What Asia faces is not a resource problem—it’s a connectivity and market architecture problem,” Diop said.

As such, the World Bank Group’s (WBG) private-sector arm pushed for greater investment in power infrastructure, transmission systems, and financing mechanisms needed to support the region’s energy transition.

“The infrastructure needs of Asia’s emerging markets (EMs) run into the trillions of dollars and cannot be met without mobilizing private capital at scale,” Diop was quoted by Singapore-based project facilitation office Infrastructure Asia as saying in a statement.

“Together with Infrastructure Asia and other like-minded partners, the WBG, including IFC, is working to unlock long-term investment for the next generation of sustainable infrastructure,” he added.

“From securitization platforms and local-currency financing to deeper capital markets and infrastructure investment trusts, we have practical tools to reduce risk, attract investors, and channel capital where it is needed most. By working together, we can help build infrastructure that drives growth, creates jobs, and improves lives across Asia,” according to Diop.

For its part, Infrastructure Asia, AIF 2026’s organizer, pointed to the growing pipeline of infrastructure opportunities across the region.

In his welcome address, Infrastructure Asia executive director Lavan Thiru said that more than 15 infrastructure projects with a combined value exceeding $16 billion would be showcased during this year’s two-day AIF. He said this would provide investors and financiers with greater visibility into Asia’s infrastructure pipeline.

Thiru said the projects were particularly important as the private sector assumes a larger role in financing regional infrastructure projects.

According to Infrastructure Asia, Philippine projects showcased at AIF 2026 included the Metro Manila Subway Project (MMSP), Metro Rail Transit Line 3 (MRT-3), and Light Rail Transit Line 2 (LRT-2).

Infrastructure Asia also signed four memoranda of understanding during the forum, including a renewed agreement with the Public-Private Partnership (PPP) Center of the Philippines. This partnership would deepen collaboration in project development, financing, and capacity building while helping connect Singapore-based firms to infrastructure opportunities in the Philippines, according to Infrastructure Asia.

“One thing we’ve learned at the PPP Center is that advancing sustainable infrastructure requires strong partnerships. Our collaboration with Infrastructure Asia helps connect project sponsors, governments, financiers, and technical experts to strengthen project preparation, enhance bankability and mobilize investment for sustainable infrastructure across the region,” Infrastructure Asia quoted PPP Center Executive Director Rizza Blanco-Latorre as saying.

“Looking ahead, we see tremendous opportunities in circular economy investments, particularly in waste-to-energy (WtE) and sustainable solid waste management systems. To accelerate progress, green priorities must be more deeply integrated into infrastructure planning, supported by stronger coordination across government agencies and clearer pathways from policy to implementation,” she added.