DOE steps up drive for investors in offshore wind projects

Published July 20, 2021, 3:35 PM

by Myrna M. Velasco

The Department of Energy (DOE) will be stepping up on its drive to entice investors into the country’s embryonic offshore wind project developments.

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The department is slating a ‘collaborative virtual workshop’ Tuesday, July 2, with relevant industry stakeholders and targeted investors, so they can jointly discuss directions as to how the offshore wind sub-segment could be lined up as the next appetizing investment space for renewable energy (RE) project developers.

As stated by the DOE, the event targets to “determine how the Philippine government and the wind industry could jointly work towards realizing the country’s massive offshore wind potential.”

In the view of Energy Secretary Alfonso G. Cusi, “harnessing our wind energy resources would open up limitless resource of reliable and indigenous clean energy, bringing us closer to our energy security and sustainability goals.”

He added that the anticipated ventures for offshore wind farm installations will “redound to the benefit of Filipinos through job generation, public health benefits and the influx of significant inward capital investment.”

The DOE thus noted that via the workshop-initiative of its Renewable Energy Management Bureau (REMB), the government is eyeing “to secure a more robust investment environment for the Philippine wind sector.”

Beyond that, however, the department indicated that it “recognizes the challenges in marine spatial planning and enhancing capabilities to address technical challenges” – primarily for floating wind applications, turbine operations especially in unsparing climactic conditions as well as the requisite grid reinforcements for the integration of the targeted wind capacities.

The DOE admitted that the country’s offshore wind investment drift is still very much fledgling, but it is setting expectations that its recently awarded development rights to several investing-groups will eventually advance to commercial fruition.

By far, the energy department already awarded service contracts to prospective offshore wind farm projects in Aparri Bay, Frontera Bay, Guimaras Strait, Guimaras Strait II and San Miguel Bay – which are generally in northern and central parts of the country.

In the virtual workshop slated this week, the DOE said there will also be collaboration with the Carbon Trust and Global Wind Energy Council, so they can share industrial viewpoints and expertise “that are critical for market development and fostering a sound environment for partnerships.”

Aside from the investors, targeted attendance in the event will include renewable energy and infrastructure experts as well as offshore wind industry practitioners so they can all exchange views on policies, regulation and the technical facets of offshore wind project developments.

 
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