P56 B in the pipeline for Phl wind projects

BERLIN A leading German wind and solar farm developeris planning to invest P56 billion on top of the P392.4 billion it earlier committed forrenewable energy RE) projects in the Philippines.

- HELEN FLORES and LOUELLA DESIDERIO

President Marcos, together with his economic team led by Trade Secretary Alfredo Pascual, met with wpd GmbH officials here on the sidelines of his three-day working visit, where they talked about the company's renewable energy projects in the Philippines.

The Department of Trade and Industry (DTI) said wpd is undertaking pre-development activities for five onshore projects in the Philippines, particularly in the Ilocos Region, Aklan, Iloilo, Antique and Bulacan, with an estimated investment value of P56 billion and a combined RE capacity of 565 megawatts, with completion dates between 2027 and 2030.

The DTI said the P56 billion investment is separate from the $4 billion investment deals presented to Marcos during the business forum held for his visit in Germany and outside of wpd's P392.4 billion investment already registered by the Board of Investments last year.

At present, the wpd is undertaking development work for the establishment of offshore wind farms in Cavite, Negros Occidental and Guimaras, valued at an initial investment cost of P392.4 billion.

This is the single biggest investment from Germany to date, according to the DTI.

Headquartered in Bremen in northwest Germany, wpd specializes in the development and operation of offshore and onshore wind and solar PV projects across Europe, Asia and the Americas. The company operates in 29 countries.