THE Department of Energy (DoE) said the fifth round of the green energy auction (GEA-5) this year, which is dedicated to offshore wind, will keep the industry on track to start generating power by 2028.
“It is on track. The auction will be conducted within the year,” Energy Secretary Sharon S. Garin said on the sidelines of a forum organized by the American Chamber of Commerce of the Philippines, Inc. on Thursday.
GEA-5 focuses on fixed-bottom offshore wind technology, with an installation target of 3.3 gigawatts (GW) and a delivery commencement period of 2028 to 2030.
Ms. Garin said the DoE is working with the Philippine Ports Authority, the Energy Regulatory Commission, and the National Grid Corp. of the Philippines to address the needed support infrastructure.
GEA-5 is expected to facilitate market access for offshore wind developers, ensuring long-term demand for their capacity.
With the Philippines’ offshore wind potential estimated at over 178 GW, the DoE has issued 87 offshore wind service contracts with an aggregate capacity of approximately 68 GW.
The DoE expects offshore wind to play a key role in achieving the Philippine target of increasing renewable energy’s share in the power mix to 35% by 2030 and 50% by 2040.
“Central to our energy transition is our aggressive pursuit of developing and maximizing our renewable energy,” Ms. Garin said.
At present, there are 1,392 active renewable energy projects awarded by the DoE with 7 GW already installed and potential capacity of 151 GW.
“There is so much interest in the Philippines, not only for the domestic developers but also for international as we have opened up renewable energy for 100% ownership of foreign investors,” Ms. Garin said. — Sheldeen Joy Talavera
