Alternergy Holdings Corp., through its wholly-owned subsidiary Pililla AVC Corp., and Shell Overseas 1 Investment B. V. announced Tuesday their partnership to jointly explore offshore wind potential in the Philippines.
The proposed project, with an estimated cost of $5 million per megawatt , could take at least five years before actual construction starts. Officials said permitting process, transmission line concerns, and coordination with the local government unit must be sorted out first. “The Philippines’s offshore wind industry is promising and still at its nascent stage. Shell, as our strategic partner with 50 years of deep water offshore and over 20 years of offshore wind development experience, will bring in its global track record, supply chain access, and technical expertise in developing large-scale bottom-fixed and floating offshore wind projects,” said Perez.
DOE Secretary Raphael P.M. Lotilla expressed his appreciation for the “enthusiasm” of the private sector in developing offshore wind projects in the country. PetroGreen Energy Corp also recently formed three special purpose vehicles for its OSW projects in Luzon and the Visayas together with its foreign partner, Copenhagen Energy .
Source: News Formal (newsformal.com)
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