apex gaming88 DOE’s auction for offshore wind projects poised for Q3 2025

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In a statement on Friday, the DOTr said it had inked a transaction advisory service agreement with the World Bank Group unit to lay out the airport project’s terms of reference (TOR).

A government bidding focused on offshore wind projects will be pursued by the third quarter of next year, a move seen as critical to propel the country’s renewable energy targets given their capacity to generate more clean electricity.

In a statement, the Department of Energy (DOE) said the planned fifth round of the Green Energy Auction (GEA-5) would cement the government’s target to expand the local renewable energy portfolio.

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The agency even said that pushing for offshore wind developments could make the Philippines “a renewable energy leader in the region.”

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READ: DOE, DENR enter into an agreement to promote offshore wind projects

“As a cornerstone of the Philippine Energy Plan 2023-2050, GEA-5 exemplifies the government’s unwavering commitment to renewable energy deployment, energy security, and the nation’s energy transition agenda,” it said.

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“The outcomes of this auction will be vital in setting a clear path for developers and other stakeholders in the offshore wind industry,” the DOE added.

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The GEA-5, which will include incentivized offshore wind capacities, is seen to secure market access for offshore wind developers.

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The launch of the auction would likewise set a timeline guide for other agencies, including the country’s grid operator National Grid Corp. of the Philippines, the Philippine Ports of Authority (PPA), the Department of Environment and Natural Resources (DENR), Philippine Coast Guard, and local government units.

It previously sealed agreements with the DENR for the permitting processes and the PPA for the modernization of port infrastructure for logistics purposes.

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The DOE said it would soon issue the notice of auction and terms of reference that would set the timeline and rules for the GEA-5.

One of the early players in the Philippine offshore wind market is Danish firm Copenhagen Infrastructure Partners (CIP), with an investment of at least $3 billion. Its 1-gigawatt San Miguel Bay offshore wind project has also been certified as national significance by the government, allowing the company to enjoy faster permitting processes.

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CIP earlier said it was targeting to make the project operational by 2028.apex gaming88

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