Tag: philippines

BlueFloat to develop 7.6 GW of offshore wind projects in the Philippines

BlueFloat to develop 7.6 GW of offshore wind projects in the Philippines

June 5, 2023 |

BlueFloat Energy, a Spanish offshore wind project developer, will construct a portfolio of 7.6 GW offshore wind projects in the Philippines. The portfolio will be spread throughout four locations: Central Luzon, South Luzon, Northern Luzon, and Southern Mindoro. Each of the sites, with a capacity ranging from 1.5 GW to 3.5 GW, has contracts with the corporation for wind energy service. In April 2023, a road map for the growth of offshore wind in the Philippines was published by the Department of Energy of the Philippines and the World Bank Group.

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Fluence commissions 570 MW Philippines energy storage portfolio

Fluence commissions 570 MW Philippines energy storage portfolio

April 6, 2023 |

Fluence Energy, a supplier of energy storage services, has finished a 570 MW energy storage portfolio in the Philippines.  The battery-based energy storage portfolio has been given to SMC Global Power (SMCGP), a division of the Philippines-based company San Miguel Corporation. The portfolio’s completion was announced at the opening ceremony of SMCGP’s 1 GW/1 GWh battery energy storage fleet in the country.

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<strong>Citicore prepares for IPO to fund $4 billion investment in renewables</strong>

Citicore prepares for IPO to fund $4 billion investment in renewables

February 13, 2023 |

Citicore Renewable Energy Corp, one of the major solar power producers in the Philippines, has revealed plans to go public in 2023. It anticipates that the share sale will contribute to a $4 billion investment in solar projects over the following five years. According to the statement, the IPO proceeds will enable Citicore to invest $800 million this year to increase its current generation capacity from 241 MW to 1 GW, and a total of $4 billion over five years to reach an installed capacity of 5 GW.

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Upside For Philippines Renewables As Policy Encourages Market Openness

Upside For Philippines Renewables As Policy Encourages Market Openness

December 9, 2022 |

The Philippines’ wind and solar sectors will lead renewable capacity growth over the coming 10 years following robust governmental support and investor interest. From 2022 to 2031, we expect the Philippines’ non-hydropower renewables sector to experience the greatest expansion. It will grow by 6.8GW and at an annual average rate of 10.4%, surpassing conventional thermal’s increase of 5.8GW.

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Siemens Gamesa acquires wind turbine supply order in Philippines

Siemens Gamesa acquires wind turbine supply order in Philippines

August 12, 2022 |

Following the country’s initial round of renewable energy auctions, German energy company Siemens Gamesa has acquired a turbine contract in the Philippines from renewable developer ACEN. For the 70 MW Capa wind farm, Siemens Gamesa will supply 14 of its SG 5.0-145 turbines. The wind farm is being constructed in Caparispisan, Ilocos Norte, and is anticipated to start operating in the first quarter of 2024.

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EPI and Shell to develop renewable projects in Philippines

EPI and Shell to develop renewable projects in Philippines

July 5, 2022 |

Nickel Asia Corp (NAC) subsidiary Emerging Power (EPI) has signed a joint venture agreement with Shell business unit Shell Overseas Investments to develop renewable energy projects in the Philippines. With a main focus on utility-scale solar photovoltaic projects, the partners will build, own, operate, and maintain onshore renewable projects throughout the nation.

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Philippines allocates 1.57 GW of solar in auction

Philippines allocates 1.57 GW of solar in auction

June 28, 2022 |

Under the first round of the 2 GW Green Energy Auction Program, the Philippines’ Department of Energy awarded 19 contracts to develop 1.57 GW of renewable energy projects. Solar, hydro, wind, and biomass projects in the Philippines’ Luzon, Visayas, and Mindanao regions were auctioned out. The winning bids will receive 20-year power supply agreements. The projects are planned to start up between 2023 and 2025.

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Philippines to allow nuclear power into energy mix

Philippines to allow nuclear power into energy mix

March 7, 2022 |

The president of Philippines has signed an executive order allowing nuclear power to be included in the country’s energy mix as the government transitions away from coal-fired power facilities in order to meet its climate targets. On February 28, 2022 the order was signed and it was made public on March 3, 2022. According to NHK World-Japan, coal-fired power plants currently serve around 60 per cent of the Philippines’ overall energy needs.

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The Philippines is well positioned to be a regional leader in wind energy: GWEC

The Philippines is well positioned to be a regional leader in wind energy: GWEC

February 23, 2022 |

The Philippines has an appropriate permitting and auctioning infrastructure in place and was on track a decade ago to rely primarily on renewable energy. In the business-as-usual scenario we forecast that almost 1.15 GW of wind capacity will be installed between 2022 and 2026. If a green recovery is implemented, we forecast a fast acceleration of wind capacity from 2024 onwards, which would result in almost 1.65 GW being installed between 2022 and 2026 – a potential upside of 500 MW.

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Philippines plans to auction 2 GW of renewable energy

Philippines plans to auction 2 GW of renewable energy

February 8, 2022 |

The Department of Energy in the Philippines has announced an auction to award 2 GW of renewable energy capacity. The country’s authorities aim to contract 1,260 MW of PV, 380 MW of wind power, 230 MW of biomass, and 130 MW of hydropower capacity through the procurement process.

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SMC plans 1 GW battery storage facility in Philippines

SMC plans 1 GW battery storage facility in Philippines

January 7, 2022 |

San Miguel Corporation (SMC), a Philippines-based brewing-to-energy conglomerate, has announced that it will begin operating an initial 690 MW of battery storage facility early this year. In 2021-22, the company expects to complete 31 energy storage systems with a total capacity of 1 GW. Also, SMC aims to focus on solar and hydroelectric power plants.

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JERA invests $1.58 Billion in the Philippines’ power utility

JERA invests $1.58 Billion in the Philippines’ power utility

September 30, 2021 |

JERA, a Japanese energy company, has signed a share purchase JERA, a Japanese energy company, has signed a share purchase agreement with Aboitiz Equity Ventures and Aboitiz & Company for the purchase of approximately 27 percent of Aboitiz Power Corporation’s (Aboitiz Power) outstanding shares for $1.58 billion.

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Philippines plans a roadmap for offshore wind development

Philippines plans a roadmap for offshore wind development

June 25, 2021 |

The Philippines Department of Energy (DOE) has started an Offshore Wind Roadmap initiative with World Bank Group funding (WBG). The project, funded by the World Bank’s Energy Sector Management Assistance Program (ESMAP), targets to identify sites in the Philippines with significant potential for offshore wind development.

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Shell to procure 20 MW from Citicore’s solar project in Philippines

Shell to procure 20 MW from Citicore’s solar project in Philippines

May 17, 2021 |

Shell Energy Philippines will procure 20 MW of solar power from Citicore Power, a renewable energy supply and solutions company. Citicore Solar Bataan will supply Shell with renewable energy produced by its solar plant in Mariveles, Bataan. Shell Energy Philippines, which was formerly Manta Energy, is a retail electricity supplier under the Shell Group offering energy solutions to businesses in the Philippines.

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2 GWp solar park with storage and diesel backup to come up in the Philippines

2 GWp solar park with storage and diesel backup to come up in the Philippines

February 25, 2021 |

he Solar Philippines Corporation has announced plans to build a large power complex combining 2 GWp of solar power capacity, 6 GWp of energy storage, and a 600 MW diesel backup plant in Nasugbu, Batangas City. The company has secured a Solar Service Energy Contract from the Department of Energy giving it exclusive right to explore, develop and utilise the solar resource. Solar Philippines has also secured about 2,000 hectares of land for the project in Nasugbu.

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Opportunities for green finance in the Philippines

Opportunities for green finance in the Philippines

December 1, 2020 |

The Philippines has been one of the fastest growing economies in the Association of Southeast Asian Nations (ASEAN) and despite the covid-19 crisis, the economic growth is expected to rebound gradually in 2021–2022. However, this recovery from the COVID-19 crisis would need urgent focus on green infrastructure and creating an enabling environment for these investments. The Green Infrastructure Investment Opportunities: Philippines 2020 Report has been prepared by the Climate Bonds Initiative (CBI).

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