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Manila Bulletin devider Business devider Trade & Industry devider Japan's MOL ready to assist Philippines' offshore wind ambitions

Japan's MOL ready to assist Philippines' offshore wind ambitions

Published Feb 6, 2025 10:04 am

Japan's Mitsui O.S.K. Lines (MOL) has expressed interest in supporting offshore wind (OSW) development in the Philippines.

In a briefing on Thursday, Feb. 6, Yasunori Takamatsu, president of MOL Enterprise Philippines, Inc., said the company is open to transporting materials needed for OSW projects.

"We’re working with the development of the offshore wind development, the Marcos administration has provided strong leadership, [as the government’s] target year is 2028,” he said.

The Philippine government aims to have its first OSW output within three years.

“[If] there is an investment in the offshore power plant, we will contribute through the shipping service,” Takamatsu added. “[But] the Philippine partner will initiate this," he added.

Yosuke Ishibe, General Manager and corporate communication of MOL, noted Japan's experience with various OSW projects, including fixed and floating solutions.

"The key thing in fixed [OSW], it's very difficult to install. It also has issues with fishing communities, so we're also working on floating OSW, which can sustain deep water and has huge dynamic potential growth," he explained.

Ishibe said MOL's investment in a Norwegian offshore wind technology company, specializing in platform stabilization, and its recent acquisition of Japan-based MODEC, a floating offshore oil and gas production firm, could be crucial in assisting the Philippines' OSW development.

"By having an acquisition with [the] Nordic firm and MODEC, we can provide these technologies to the Philippines, as we understand that some areas [in the country] are very much deep water," he added.

MOL continues to strengthen its presence in the Philippines through its partnership with Magsaysay Shipping & Logistics, which has operated in the country since 1964.

"The MOL Group will continue to contribute to the region by strengthening both shipping and non-shipping businesses in the Philippines and by training seafarers, and aims to realize the regional strategy set forth in the BLUE ACTION 2035 management plan," MOL stated.

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