Growth in renewables capacity, hampered by relatively high costs and public and political opposition, will be ‘largely insufficient’ for the country to end its reliance on coal and nuclear power, according to Fitch Solutions.
The firm has already deployed $1.8bn from Asia Pacific Infrastructure Investors, across six investments in Asia, including its first in the Philippines.
The country’s aviation sector will be the last to recover, but while the power segment has proved resilient, significant delays in receivables are worrying, S&P Global Ratings says.