[2GW! CIP wins Philippine offshore wind power development rights] Copenhagen Infrastructure Partners (CIP) has signed a 25-year offshore wind service contract with the Philippine Department of Energy (DOE) for three offshore wind farms with a combined capacity of 2 GW. The contracts come after the Philippine government lifted foreign ownership restrictions on its renewable energy development in 2022. As a result, CIP became the first company to undertake offshore wind development in the country with 100% foreign ownership. CIP intends to develop the three offshore wind farms offshore Camarines Norte and Camarines Sur, offshore Northern Samar, and offshore Pangasinan and La Union. The Philippine Department of Energy recently stated that these offshore wind power projects will create about 4,500 jobs during development and operation, generate enough electricity to power about 1 million households, and reduce carbon dioxide emissions by about 2.9 million tons per year. So far, the sector has awarded 57 such contracts with a total potential capacity of around 42 GW, which is planned to be developed over the next few years. It is reported that the Philippines plans to make the proportion of renewable energy in the power generation mix reach 35% by 2030 and 50% by 2040, compared with the current proportion of 22%. According to the World Bank's Offshore Wind Circuit Roadmap released in April 2022, the Philippines has the potential to deploy as much as 21 GW of offshore wind capacity by 2040 and 40 GW by 2050. Editor/Xu Shengpeng

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• 2026.04.29 17:06
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