Copenhagen Infrastructure Partners (CIP) is set to channel PHP 108 billion (USD 1.92 billion/EUR 1.77 billion) into the development of a sprawling offshore wind farm off the coast of the Philippines, according to a statement from the government of Northern Samar province.
The provincial governor, Edwin Ongchuan, held discussions with CIP's executives on January 25 to outline plans for the ambitious 650-MW wind project, known as North Samar. The wind turbines are slated to be strategically located off the coasts of Bobon, Catarman, Mondragon, San Roque, Pambujan, and Laoang municipalities.
Currently in the pre-development phase, the North Samar project is gearing up for site investigations scheduled to commence in the first quarter of 2024 and extend through 2025. Simultaneously, negotiations are underway with the National Grid Corporation to secure grid connection points.
CIP achieved a significant milestone by becoming the inaugural foreign investor to secure site exclusivity in the Philippines, following the authorization of foreign ownership in the renewables sector in November 2022. Subsequently, in March 2023, it further solidified its position by being the first 100% foreign-owned company to be awarded renewable energy service contracts in the country.
Under the Wind Energy Service Contract (WESC), the North Samar project has garnered endorsement from the Department of Energy and other pertinent entities, as affirmed by the Northern Samar provincial government.
In addition to the North Samar project, CIP has submitted applications for the registration of other offshore wind initiatives in the Philippines. These endeavors aim to install approximately 1,000 MW off the coasts of Camarines Norte and Camarines Sur, along with 350 MW in Pangasinan and La Union. The company is resolute in concluding all its offshore wind projects in the country during the term of President Ferdinand Marcos Jr., whose six-year tenure commenced in June 2022, as per statements from the local government.