PH Energy Secretary Lotilla at WindEurope Conference in Copenhagen
Energy Secretary takes the podium at the WindEurope Conference in Copenhagen.
COPENHAGEN, 28 April 2023 – Secretary Lotilla presented investment opportunities in the Philippine energy sector to global investors at the WindEurope 2023 Conference, the world's largest wind energy event. He shared the recent decision of the government to open key segments of the renewable energy sector to foreign ownership, primarily for wind and solar installations, that have generated significant interests from Danish and international firms.
Energy Secretary Raphael Lotilla is visiting Denmark to meet with policymakers and investors. According to Ambassador Leo Herrera-Lim, "this visit highlights the growing bilateral partnership between the Philippines and Denmark in terms of energy cooperation towards reduction of carbon emissions and hastening development of clean energy. The Philippines has enough wind behind it to be a regional leader in renewables.”
During the visit, the delegation discussed national developments, including the recently signed Executive Order No. 21 by President Ferdinand Marcos Jr. which mandates the Department of Energy (DOE) to fast-track necessary permits for offshore wind projects using the Energy One-Stop Shop system (EVOSS).
Apart from enticing global companies to invest in the country’s energy sector, the Philippine delegation led by the Secretary examined the infrastructure buildup and improvements necessary to underpin the transformation of its energy mix, primarily the upscaling of port infrastructures, integration of variable RE (VRE) technologies, and advancements in energy storage systems. They have also visited waste-to-energy projects, and even deployment of small modular reactors (SMR) on nuclear power ventures.
Earlier, the DOE signed offshore wind contracts with Copenhagen Infrastructure New Markets Fund (CINMF) and Buhawind, a joint venture of Danish renewable energy firm Copenhagen Energy A/S (CE) and PetroGreen Energy Corp. The planned offshore wind projects are projected to bring in about USD 15 billion and create thousands of green jobs.
The Philippines has an estimated 178 gigawatts (GW) of potential offshore wind resources, as noted in the "Offshore Wind Roadmap for the Philippines" program by the World Bank Group (WBG) and the DOE. The program aims to help develop the sector and address the growing demand for power. END
For more information, visit https://copenhagenpe.dfa.gov.ph/ or https://www.facebook.com/PHinDenmark/.