DOE awards 40 offshore wind contracts

The Department of Energy (DOE) has issued 40 offshore wind service contracts to 20 developers with a combined capacity of 30 gigawatts or 30,000 megawatts to date.

DOE Assistant Secretary Mylene Capongcol said they couldn’t say how much investments would come from the offshore wind projects as this would depend on the technology used.

Among those granted offshore wind service contracts include PetroGreen Energy, Domhain Earth, Earth Sol Power, Barracuda Energy, Giga Ace 7, Vind Energy, Pililla AVPC, CleanTech Global Renewables, wpd Philippines and Energy Development Corp.

In April, the DOE and the World Bank Group (WBG) released a roadmap that showed that the Philippines has the potential to install 40 GW of offshore wind power with the right long-term vision, infrastructure development, investment, and policies.

The Philippines Offshore Wind Roadmap charts out the potential for developing a robust offshore wind industry in the Philippines in two potential scenarios.

An analysis of the low growth scenario suggests that the Philippines has the potential to install 6 GW of offshore wind by 2050, making up five percent of the country’s electricity supply. The high growth scenario analysis shows the potential to install 40GW, making up 45 percent of its electricity supply.

The roadmap provides guidance on actions that the government must take in collaboration with the stakeholders, including putting in place a long-term plan for offshore wind until 2050 as part of a decarbonized energy mix; establishing offshore wind development zones through further marine spatial planning; investment in transmission, port and other energy infrastructure upgrades; increasing collaboration with industry and other relevant government agencies; among others.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.

Synergy Grid declares P1.37B cash dividends

Synergy Grid and Development Philippines of bilyonaryos Big Boy Sy and Robert Coyiuto is set to reward its shareholders with a cash dividend similar to the amount given the past two quarters.