In a briefing on Tuesday, Alternergy Chairman Vicente S. Perez said Alternergy and Shell will assess the feasibility of an offshore wind project in Calavite Passage for a potential capacity of 1,000 megawatts or 1 gigawatt .
Meanwhile, Mr. Perez said the partnership with Shell is covered by foreign ownership restrictions set by the implementing rules and regulations of Republic Act No. 9513 or the Renewable Energy Act of 2008, which limited foreigners to owning only 40% of renewable energy projects. Last week, the DoE opened the renewable energy sector to full foreign ownership with the issuance of a circular amending the IRR of the RE law.
Source: News Formal (newsformal.com)
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