The Department of Energy (DOE) welcomed Executive Order (EO) No. 21 issued by President Ferdinand R. Marcos Jr. as this will hasten the rollout of offshore wind (OSW) projects in the country by mandating policy and administrative framework for the optimal development of OSW resources.
The DOE said the EO would provide clarity as it will harmonize and streamline permitting processes and leasing fees for OSW projects under a whole-of-government approach and fully implement the Energy Virtual One-Stop Shop (EVOSS) System to cover all relevant government agencies and bureaus. The EO is expected to accelerate the development of the country’s OSW resources and will contribute to the attainment of the aspirational targets of 35% and 50% renewable energy contribution to the energy generation mix by 2030 and 2040, respectively.
It was announced in March 2023 that Danish firm Copenhagen Infrastructure Partners (CIP) is investing USD 5 billion to develop three offshore wind energy projects in the Philippines with a potential capacity of 2,000 megawatts (MW). CIP is the first foreign company to develop renewable energy (RE) projects in full ownership since the Marcos administration lifted foreign ownership restrictions in the Renewable Energy sector.
Germany has also announced that it is ready to assist the Philippines in its plan to shift to more renewable energy sources. Jennifer Morgan, Germany’s State Secretary and Special Envoy for International Climate Action, said that Germany is ready to share technology with the Philippines, especially in wind power and other renewable energy sources.
(Sources: Philippine News Agency; CNN Philippines)