77 offshore wind energy contracts were recently awarded by the Department of Energy (DOE), with a potential capacity of 60 gigawatts.
Additionally, eight contracts have been granted to develop ocean, tidal, and wave energy projects, Energy Assistant Secretary Mylene C. Capongcol said in a report by BusinessWorld.
Capongol revealed that as of June 2023, 1,087 service contracts with 113 GW capacity have been awarded as well. Currently, they are in various development stages.
Meanwhile, one developer is in the process of securing an engineering procurement contractor for one of the eight marine resource service contracts, she added.
Both onshore and offshore wind projects accounted for 254 GW of potential capacity, ocean and marine energy accounted for 170 GW, while solar energy accounted for 58 GW. The approximate potential capacity for biomass, geothermal, and hydropower combined is about 10 GW.
For the time being, the omnibus guidelines for the award of contracts are under revision, with the distinction between offshore and onshore wind is yet to be determined, the energy secretary stated. The DOE also seeks to extend the pre-development period for offshore wind projects to eight years.
At the end of 2022, the RE sector covered about 22% of the country’s energy mix while coal-fired power plants supplied 60%.
The government aims to boost the RE share to 35% by 2030 and 50% by 2040.