Germany-based firm eyes P55-B green energy projects in PH
The Department of Trade and Industry (DTI) on Saturday said Germany-based power firm wpd is looking to register with the Board of Investments (BOI) its planned wind and solar power projects worth P55 billion.
The DTI said these projects, to be located in Aklan, Ilocos Norte, Ilocos Sur, Abra, Antique and Bulacan, have a planned capacity of 565.6 megawatts (MW) in total.
The government agency said the developments were discussed during a meeting between Trade Secretary Alfredo Pascual and Hamid Babamohammadi of Wpd AG last July 4 in Germany.
The DTI also said wpd confirmed investment plans for offshore wind power projects, with a combined rated capacity of 1,300 MW, in the Philippines.
Potential locations
The company, which holds office in Bremen, would be spending P400 billion ($7.2 billion) for the projects that would potentially be located in Cavite, Batangas, Negros Occidental and Guimaras.
“Wpd’s investment accounts for around 78 percent of the total BOI-approved projects as of April 2023. For the first quarter of 2023, 91 percent of all the total approved foreign investments into the Philippines were accounted for by Germany,” the DTI said in a statement.
Article continues after this advertisementDuring the same meeting with wpd, Energy Assistant Secretary Mylene Capongcol touted the government’s online system of streamlined permitting process called Energy Virtual One-Stop Shop (EVOSS) System.
The EVOSS allows the coordinated submission and synchronous processing of all required data and information and provides a single decision-making portal for actions on applications for permits or certifications related to new power generation, transmission or distribution projects.
