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RENEWABLE ENERGY. Energy Undersecretary Rowena Guevara during the Laging Handa public briefing on Feb. 3, 2023. Guevara said the Marcos administration has been keen on implementing policy reforms that would help the country to increase the share of renewable energy in the energy mix. (Screenshot from PTV-4 Facebook page) MANILA - The Department of Energy (DOE) is optimistic that the country will be able to achieve its long-term renewable energy (RE) goals through the policy reforms of the Marcos administration. During the Laging Handa public briefing Friday, DOE Undersecretary Rowena Guevara said President Ferdinand R. Marcos Jr. has been keen on implementing policy reforms that would help the country to increase the share of renewable energy in the energy mix to 35 percent by 2030 and to 50 percent by 2040. Among the initial reforms of the administration on renewable energy is allowing the full ownership for RE projects. "Dahil po dito sa ating full, 100 percent foreign ownership
The P360 billion offshore wind project of Danish renewable energy developer Copenhagen Energy A/S in Ilocos Norte is progressing with its community engagement, financial impact assessment, and national strategy activities, according to the chief of the Department of Trade and Industry.
An estimated P1.031 trillion worth of foreign investments in renewable projects are expected to pour into the Philippines, Trade and Industry Secretary Alfredo E. Pascual announced.
In a statement, Pascual said that the biggest of these projects is the P360-billion (€6 billion) offshore wind p
MANILA - The Board of Investments (BOI) said on Tuesday that BuhaWind Energy, an offshore wind project in Ilocos Norte, costs PHP360 billion (EUR6 billion). In a statement, BOI said the project will involve the development of offshore wind turbine generators with capacity of 15 to 20 megawatts each. The offshore wind project will be located in Burgos, Bangui and Pagudpud in Ilocos Norte. The project is expected to start supplying power by 2028. BuhaWind Energy is a joint venture of Danish renewable energy firm Copenhagen Energy A/S (CE) and PetroGreen Energy Corp. During the President Ferdinand R. Marcos Jr.'s visit to Brussels in December 2022, CE discussed with the BOI its investment plans in the Philippines. Trade Secretary and BOI chair Alfredo Pascual had a follow-through meeting with CE chief executive officer Jasmin Bejdic and PetroGreen vice president and chief operating officer Francisco Delfin Jr., wherein the business executives reaffirmed the firms' investment commi