Six major energy companies have joined forces to establish the Philippine-based offshore wind industry organization now known as Pilipinas Offshore Wind Energy Resource Inc. (POWER).
In a report by Philippine Star, the organization, founded by ACEN Corporation, Blue Circle, BlueFloat Energy, Citicore Renewable Energy Corporation, Ignis ZA Global, and Marubeni Asian Power Philippines Corporation, aims to accelerate offshore wind development in the Philippines over the next decade.
The organization would provide technical assistance as well as advisory services to government agencies. It would also promote an effortless shift to renewable energy sources to other interested parties.
POWER’s president, Raymund Pascual said that on top of highlighting shared concerns, issues, and interests of its members, it also anticipates potential partnerships among its members for offshore wind development.
In the draft Philippine Energy Plan (PEP) spanning from 2023 to 2050, offshore wind is integral to the envisioned clean energy landscape. The plan outlines ambitious targets, foreseeing a renewable energy contribution of 35% to the generation mix by 2030, escalating to 50% by 2040, and surpassing 50% by 2050.
