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    PetroGreen, state entities meet for offshore wind project

    June 7, 2023 - Business World


      PETROGREEN Energy Corp. on Monday said that it had conducted a port evaluation meeting for its 2,000-megawatt (MW) offshore wind power project in Ilocos Norte.

      In a statement, the renewable energy (RE) arm of listed PetroEnergy Resources Corp. said the meeting was conducted by its joint venture entity called BuhaWind Energy with the Department of Energy (DoE) and other relevant agencies.

      BuhaWind Energy is jointly owned by PetroGreen and Copenhagen Energy. The other agencies involved in the meeting are the Department of Transportation, Philippine Ports Authority (PPA), Philippine Coast Guard, and Maritime Industry Authority.

      PetroGreen said the 'high level' ports evaluation will determine additional works, improvements, and costs needed for the candidate ports in Ilocos Norte, which are deemed suitable for offshore wind development and operations.

      'The PPA was tasked to validate the initial findings in order to make the facility ready by 2026,' PetroGreen said.

      'The potential of an economic zone development around the ports for industrial and commercial activities powered by clean energy from the Northern Luzon offshore power project was also raised,' the company added.

      Separately, the DoE said that it is set to release a policy and administrative framework for the optimal development of offshore wind resources in the country.

      'We are pleased with the positive response from local and foreign investors eyeing our RE potential. We are working on policies that would minimize roadblocks, especially for offshore wind installations,' Energy Secretary Raphael P.M. Lotilla said in a media release.

      In May, the DoE issued implementing guidelines for Executive Order 21, which will adopt a whole-of-government approach to expedite the processing of permits and requirements for offshore wind energy projects.

      Last month, the department said it had awarded 65 offshore wind contracts with a combined potential capacity of 51.23 gigawatts (GW), which it deemed enough to supply the country's future energy demand.

      Under the Philippine Offshore Wind Roadmap, the Philippines has an estimated potential capacity of 178 GW from offshore wind resources. This is expected to help the country reach its aim of increasing the share of renewables to 35% of the country's energy mix by 2030 and 50% by 2040. - Ashley Erika O. Jose


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