Philippines Boost Offshore Wind Energy: DOE Announces Green Energy Auction

The Philippines is advancing energy independence by transitioning to energy, paving the way for sustainable development, and embracing offshore wind as a key component of its renewable energy strategy.   

Philippines Gear Up Offshore Wind Energy. Photo: iStock

The Philippine Department of Energy (DOE) to boost wind power by early 2025, is set to hold the 5th round of the Green Energy Auction (GEA-5), specifically for offshore wind projects. Set for the third quarter of 2025, the auction represents a significant step towards the Philippines’ goal of deploying offshore wind power by 2028. As a key component of the Philippine Energy Plan 2023-2050, GEA-5 demonstrates the government’s steadfast commitment to advancing renewable energy, ensuring energy security, and supporting the country’s energy transition. GEA-5 aims to: • Provide market access for offshore wind (OSW) developers, securing long-term demand for their generation capacity; • Provide a clear timeline for stakeholders, including the National Grid Corporation of the Philippines, the Philippine Port Authority, the Department of Environment and Natural Resources, the Philippine Coast Guard, and local government units; • Support the Philippines’ energy transition goals by diversifying the energy mix and reducing its reliance on fossil fuels. The DOE is going to reveal the Notice of Auction (NOA) and Terms of Reference (TOR), describing the timeline, procedures, and guidelines for GEA-5 participation. The DOE is currently reviewing position papers from stakeholders to incorporate valuable insights and ensure a transparent and effective auction process. The launch of GEA-5 is expected to drive the development of offshore wind projects, strengthening the Philippines’ leadership in renewable energy within the region. The auction results will play an important role in guiding developers and stakeholders in the offshore wind industry. This initiative is also expected to bring significant economic benefits such as local job creation and industrial growth in the renewable energy sector, in line with the Philippines’ vision for a sustainable and inclusive energy future. Through GEA-5 and other green energy projects, DOE will reaffirm its commitment to positioning the Philippines as a global leader in the clean energy transition.

Read more: https://windnexus.blogspot.com/2024/10/philippines-greenlights-first-offshore.html