Danish firm slates P360-B wind farm

With proper government support, we will be able to implement the project according to plan, noting Ilocos region as definitely one of the best resources for wind power

The offshore wind project of Danish renewable energy developer Copenhagen Energy A/S in Ilocos Norte, worth P360 billion will take place in the Philippines, Board of Investments chairperson, Trade Secretary Alfredo Pascual, said.

In the DTI chief’s meeting with Copenhagen Energy CEO, Jasmin Bejdic Pascual, expressed satisfaction with the proposed project implementation, adding that the company had secured a service contract.

Further, the company is likewise generally on track and progressing with its community engagement, financial impact assessment, and national strategy.

For his part, Bejdic said his company is looking forward to the implementation of the project saying the company considers the Philippines as a very promising business destination for floating wind towers.

“With proper government support, we will be able to implement the project according to plan, noting Ilocos region as definitely one of the best resources for wind power,” the Danish CEO said.

BuhaWind blows strong

The project dubbed “BuhaWind Energy”, a joint venture of CE with PetroGreen Energy Corp., involves the development of offshore wind power with wind turbine generators of about 15 to 20-megawatt capacity each in the waters off Burgos, Bangui and Pagudpud town and is expected to be in commercial operation by 2028.

The follow-through meeting was one of the concrete results of the promotional activities conducted during the Presidential visit to Brussels last December 2022, where the BoI and Copenhagen Energy discussed the latter’s plans to invest in the Philippines.

Further, the Secretary said the BoI is working closely with concerned government bodies such as the Office of the President and the Department of Energy to further accelerate the start of the company’s commercial operations.

It can be noted that the OP is also currently working on the issuance of an Executive Order that will enable the establishment of Green Lane, precisely for strategic investment projects such as this one.

“I am looking forward to the implementation of this project, especially since CE has already secured a Service Contract. They also already submitted a system impact study last week, which already included the electrical design and proposals on how to bring power to the grid,” Secretary Pascual shared.

Earlier, Secretary Pascual announced the incoming massive investments in the renewable energy sector in 2023 as more companies are transitioning to cleaner power sources.

He also emphasized that renewable energy projects will again be a key driver for investments this year, especially following the removal of the foreign equity restriction.

As of January 2023, the BoI is evaluating eight renewable energy projects worth P446 billion, which does not include the BuhaWind project, as it is already at an advanced stage of entry as well as the P225 billion pump-storage and solar energy project.