Philippines Clears Three Projects for First Offshore Wind Auction
Background
The Philippines, an archipelago with a vast amount of renewable energy potential, has cleared three projects for its first offshore wind auction. The auction, which was held in September 2022, aimed to secure contracts for the development of the country’s offshore wind energy sector.
Projects Shortlisted for Offshore Wind Auction
The three projects selected for the auction were:
- North Luzon Wind Project, a 300 MW offshore wind farm located 50 kilometers off the coast of Northern Luzon, developed by South Korean company GS Energy Corporation.
- Pagura Offshore Wind Energy Project, a 150 MW offshore wind farm situated 70 kilometers off the coast of Cagayan, developed by the Lopez Group’s Rockstead Energy Inc.
- Reve Offshore Wind Energy Project, a 150 MW offshore wind farm located 80 kilometers off the coast of Bataan, developed by Taipower Philippines, a joint venture between the Philippine National Oil Company (PNOC) and Japanese company J-Power.
Auction Process
The auction process involved a competitive bidding process, where developers submitted their bids based on a set of criteria, including the expected cost of electricity generation, the project’s environmental impact, and its alignment with the country’s renewable energy targets. The three selected projects were chosen from an initial pool of five bidders.
Next Steps
The selected projects will now move forward to the development stage, where the developers will have to secure all necessary permits, including environmental and right-of-way clearances, and complete necessary studies before commencing construction. The projects are expected to contribute significantly to the country’s renewable energy mix and help reduce its reliance on fossil fuels.
Conclusion
The success of the first offshore wind auction in the Philippines marks a significant milestone in the country’s transition to a low-carbon economy. The three selected projects have the potential to drive growth and development in the country’s renewable energy sector, while also contributing to a cleaner and more sustainable future.
FAQs
- What is the total capacity of the selected projects?
- 650 MW (North Luzon Wind Project: 300 MW, Pagura Offshore Wind Energy Project: 150 MW, Reve Offshore Wind Energy Project: 150 MW)
- Who are the selected developers?
- GS Energy Corporation, Rockstead Energy Inc., and Taipower Philippines
- What is the expected timeline for project completion?
- The projects are expected to be completed within the next 5-7 years, subject to the timely issuance of necessary permits and regulatory approvals.
