German energy firm, wpd AG looks to register Php 55 billion worth of energy projects with the Board of Investments (BOI), the Department of Trade and Industry (DTI) revealed.
The projects will consist of onshore wind and solar photovoltaic (PV) power projects located in Aklan, Ilocos Norte, Ilocos Sur, Abra, Antique, and Bulacan, with a total planned capacity of 565.6 megawatts (MW).
The BOI has also approved wpd Philippines Inc.’s Php 392.4 billion worth of offshore wind farms in Cavite, Negros Occidental, and Guimaras – which are expected to generate greener power solutions for local communities and businesses.
Meanwhile, the company’s BOI-approved offshore wind power projects are seen to have a combined rated capacity of 1,300 MW.
Wpd will be spending Php 400 billion on the said projects which will potentially be located in Cavite, Batangas, Negros Occidental, and Guimaras.
DTI said that wpd’s investments account for around 78% of the total BOI-approved projects as of April 2023. For the first quarter of the year, DTI said that 91% of the total approved foreign investments in the country were accounted for by Germany.