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Philippines: Danish investments for wind power

In the Philippines, PetroGreen and Copenhagen Energy are launching a joint venture to develop renewable energy.

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In the Philippines, PetroGreen and Copenhagen Energy are launching a joint venture to develop renewable energy.

Denmark’s commitment

In the Philippines, PetroGreen and Copenhagen Energy plan to form special purpose companies. The objective is to oversee the investment and development of three offshore wind projects. Thus, the Danish ambassador to the Philippines, Franz-Michael Skjold Mellbin, states:

“This investment and joint venture between Copenhagen Energy and PetroGreen demonstrates Denmark’s strong belief in the potential of offshore wind in the Philippines.”

This joint venture is part of Denmark’s commitment to support the Philippines’ goal of prioritizing renewable energy. The ambition is to increase electricity supply and reduce carbon emissions. In addition, Denmark is also working with the Philippine government to remove barriers to commercial offshore wind development.

More flexible regulations

The Phillipines Department of Energy (DoE) is expected to release revised rules and regulations for the Renewable Energy Act. These rules will lift restrictions on foreign investment in renewable energy. According to PetroGreen, the DoE hopes that offshore wind projects will help the country secure a clean energy supply.

In 2021, the Phillipines awarded PetroGreen service contracts for Buhawind Energy Northern Luzon. In addition, these contracts also cover Buhawind Energy Northern Mindoro and Buhawind Energy East Panay. The total capacity of these projects is approximately 4GW.

Various projects

In the Philippines, PetroGreen operates five power plants using geothermal, wind and solar energy. This is the 32MW Maibarara geothermal power plant in Batangas. The company also owns the 36MW wind project with a planned extension of about 14MW in Nabas, Malay and Aklan.

PetroGreen also operates a 70MW DC solar project in Tarlac City. For its part, Copenhagen Energy has a portfolio of wind power projects amounting to more than 28GW. The Danish company has projects in Denmark, Australia, Ireland and the Philippines.

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