Policies and frameworks on project permitting, grid integration and warranted port facilities would be the wild jig that will catapult final investment decisions of sponsor-firms for offshore wind projects.
The strong interest for OSW came after President Ferdinand R. Marcos Jr.'s issuance of Executive Order No. 21, a key policy foundation that unlocked potential capital flow with several offshore wind installations being planned across various sites in the country. Lotilla highlighted that their sharp focus will be “working with the concerned government agencies, local government units, and the transmission concessionaire to implement the directives of President Ferdinand Marcos Jr. under EO 21.”
The DOE is also convinced that the government will eventually triumph in cornering those colossal investments that will not only shore up the country’s power supply but will also be providing valuable green jobs and economic opportunities to the Filipino people.
Source: Energy Industry News (energyindustrynews.net)
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