CATARMAN, Northern Samar – The Board of Investments confirmed a plan of a foreign company to establish a P108-billion wind energy project in Northern Samar.
Ernesto Delos Reyes, Director of the Investment Assistance Service at the Board of Investments (BOI), told Northern Samar Governor Edwin Ongchuan that Copenhagen Infrastructure Partners (CIP) will invest P108-billion for the development of the 650 MW North Samar Offshore Wind Power Project.
Ongchuan met with officials of BOI and CIP to discuss the details of the offshore wind project last Thursday, 25 January, at the provincial capitol here.
Niels Holst, CIP Partner and head of its New Markets Fund (CI NMF), said the company is eyeing to put up the large-scale offshore wind project in the contiguous towns of Bobon, Catarman, Mondragon, San Roque, Pambujan, and Laoang in the northern seaboard of the province.
Ernesto Delos Reyes, Director of the Investment Assistance Service at the Board of Investments (BOI), told Northern Samar Governor Edwin Ongchuan that Copenhagen Infrastructure Partners (CIP) will invest P108-billion for the development of the 650 MW North Samar Offshore Wind Power Project.
Ongchuan met with officials of BOI and CIP to discuss the details of the offshore wind project last Thursday, 25 January, at the provincial capitol here.
Niels Holst, CIP Partner and head of its New Markets Fund (CI NMF), said the company is eyeing to put up the large-scale offshore wind project in the contiguous towns of Bobon, Catarman, Mondragon, San Roque, Pambujan, and Laoang in the northern seaboard of the province.
The 650 MW North Samar Offshore Wind Power Project will be the second wind energy project in Northern Samar next to the 206-megawatt (MW) San Isidro wind power project of Aboitiz Renewables, Inc. (ARI) and Singaporean firm Vena Energy now being constructed in San Isidro town.
Ongchuan said the entry of new investments in the province is an indication that Northern Samar has already gone past its former identity as an insurgency-infested province. "These investments will bring more jobs and opportunities for our people," he said.
Known for developing large-scale offshore wind projects globally, CIP is the first foreign investor to be granted site exclusivity in the Philippines following the authorization of foreign ownership in renewable energy projects in November 2022.
The company acquired the exclusive rights for designing, building, and operating a 2 gigawatt portfolio of wind projects. CIP is the first fully foreign-owned company to be awarded renewable energy service contracts in the Philippines.
Ongchuan said the entry of new investments in the province is an indication that Northern Samar has already gone past its former identity as an insurgency-infested province. "These investments will bring more jobs and opportunities for our people," he said.
Known for developing large-scale offshore wind projects globally, CIP is the first foreign investor to be granted site exclusivity in the Philippines following the authorization of foreign ownership in renewable energy projects in November 2022.
The company acquired the exclusive rights for designing, building, and operating a 2 gigawatt portfolio of wind projects. CIP is the first fully foreign-owned company to be awarded renewable energy service contracts in the Philippines.
CIP entered into 25-year Offshore Wind Service Contracts with the Department of Energy to develop three offshore wind farms -- 1,000 MW in Camarines Norte and Camarines Sur, 650 MW in Northern Samar and 350 MW in Pangasinan and La Union.
The Denmark-based company is investing USD5 billion for the three projects. These projects combined are expected to generate around 4,500 jobs.
Allen Berbon, head of Northern Samar's Provincial Economic Development and Investment Promotions Office, said the project is currently in the pre-development phase and is expected to commence ground investigations in the first quarter of 2024, which will continue until the end of 2025.
These investigations, to be done by a CIP team of experts, will involve utilizing equipment to measure wind speeds, seabed conditions, and environmental factors, he said.
Berbon added that discussion with the National Grid Corporation of the Philippines to secure the best options for grid connection has already started. This includes potential grid connection points such as the Calbayog 138 kV substation, San Isidro 138 kV substation, a potential new station near a 350 kV transmission line, and the Calbayog-Allen 138 kV transmission project.(CJ/jmm/ER)
The Denmark-based company is investing USD5 billion for the three projects. These projects combined are expected to generate around 4,500 jobs.
Allen Berbon, head of Northern Samar's Provincial Economic Development and Investment Promotions Office, said the project is currently in the pre-development phase and is expected to commence ground investigations in the first quarter of 2024, which will continue until the end of 2025.
These investigations, to be done by a CIP team of experts, will involve utilizing equipment to measure wind speeds, seabed conditions, and environmental factors, he said.
Berbon added that discussion with the National Grid Corporation of the Philippines to secure the best options for grid connection has already started. This includes potential grid connection points such as the Calbayog 138 kV substation, San Isidro 138 kV substation, a potential new station near a 350 kV transmission line, and the Calbayog-Allen 138 kV transmission project.(CJ/jmm/ER)
