PetroGreen Energy Corporation (PGEC) and Copenhagen Energy (CE)’s floating offshore wind projects in the Philippines have been awarded the Green Lane Certificate by the Philippine Board of Investments (BOI).
According to CE, the certification is designed to streamline the process of securing future permits and licenses, allowing the company to fast-track the development of offshore wind projects.
PGEC and CE began to co-develop projects off the coast of the Philippines in 2020 and formalized their collaboration by creating a partnership, BuhaWind Energy Philippines, in 2022.
The partnership is working on developing three floating offshore wind farms off the coast of the Philippines, with a potential combined capacity of 4 GW.
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Northern Luzon, located offshore of Ilocos Norte, will produce 2 GW of electricity and is expected to be fully operational in 2030.
The Northern Mindoro project, situated offshore of Occidental Mindoro and Batangas, is set to generate 1 GW of electricity, with operations expected to begin in 2031. Similarly, the East Panay project, located offshore of Iloilo and Guimaras, is projected to produce 1 GW of electricity and is anticipated to be operational by 2033.