5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

Energy developers form group to pool expertise in offshore wind operations

by
December 13, 2023
in Stock
0
Energy developers form group to pool expertise in offshore wind operations













AN ASSOCIATION has been formed by energy developers to pool expertise and technical resources in offshore wind power, with the goal of accelerating the Philippines’ clean-energy transition.

On Wednesday, Pilipinas Offshore Wind Energy Resource, Inc. (POWER) was launched by energy companies ACEN Corp., The Blue Circle, BlueFloat Energy, Citicore Renewable Energy Corp., Ignis ZA Global, and Marubeni Asian Power Philippines Corp.

“The primary aim is to collaborate. It’s a group of developers with wind energy service contracts (WESCs). Having said that, these are developers that are supposed to design, develop, build, operate, and maintain” wind projects, POWER President and BlueFloat Energy Philippines Country Manager Raymund M. Pascual told reporters during the launch in Taguig City.

“We have our own common concerns, common issues, and of course, common interests,” he added.

Asked if the members might form a consortium, he said: “Anything is possible at this point, also because of the very nature of projects — (which are in the) gigawatts.”

According to Mr. Pascual, the members of POWER have projects with a combined capacity of up to 60 gigawatts (GW).

To date, the Department of Energy has awarded a total of 82 offshore wind projects with potential capacity of 63.359 GW.

These projects are located north of Luzon, west of Metro Manila, north and south of Mindoro, Panay, and the Guimaras Strait. All these WESCs are currently in the pre-development stage, undergoing resource, site sustainability, and project viability studies.

Energy Secretary Raphael P.M. Lotilla said that developing offshore wind will require the support of local government units as “there are local issues that we have to contend with.”

“We need to be working together with not only the National Government… in the case of offshore wind, we would need to work with local government units as well,” he said.

Mr. Pascual said the association is open to other WESC holders.

“With the support from offshore wind energy actors, POWER can accelerate offshore wind development over the next decade by providing technical assistance and advisory (services) to various government agencies; coalition-building and advocacy other stakeholders critical for a successful transition to renewable energy,” POWER said in a statement. — Sheldeen Joy Talavera

RELATED ARTICLESMORE FROM AUTHOR



MORE STORIES


Previous Post

BCDA begins disposing of some residential lots around John Hay

Next Post

Energy developers form group to pool expertise in offshore wind operations

Next Post
Energy developers form group to pool expertise in offshore wind operations

Energy developers form group to pool expertise in offshore wind operations

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    Stricter gambling payment rules eyed

    Stricter gambling payment rules eyed

    July 13, 2025
    Philippines ready for tariff talks with US this week

    Philippines ready for tariff talks with US this week

    July 13, 2025
    PSE hikes capital-raising target to over P186 billion this year

    PSE hikes capital-raising target to over P186 billion this year

    July 13, 2025
    P&G partners with DTI in expanding vGROW Program

    P&G partners with DTI in expanding vGROW Program

    July 13, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.