According to DOE, the GEA-5 will provide offshore wind developers with secure market access, ensuring long-term demand for their generation capacities.
DOE said it will also serve as a timeline guide for stakeholders, including the National Grid Corporation of the Philippines, the Philippine Ports Authority (PPA), the Department of Environment and Natural Resources, the Philippine Coast Guard, and local government units.
“The launch of GEA-5 is expected to catalyze the development of offshore wind projects, solidifying the Philippines’ position as a renewable energy leader in the region. The outcomes of this auction will be vital in setting a clear path for developers and other stakeholders in the offshore wind industry,” added DOE.
The initiative is expected to generate economic benefits, including local job creation and industrial growth within the renewable energy sector.
The DOE said it will soon release the Notice of Auction (NOA) and Terms of Reference (TOR) outlining the timeline, procedures, and guidelines for GEA-5 participation.
In April 2022, the World Bank and the Philippines’ Department of Energy (DOE) launched the Philippines Offshore Wind Roadmap. According to this roadmap, with the right governmental and policy support, the country has the potential to install as much as 21 GW of offshore wind capacity by 2040.
In September 2024, DOE and PPA jointly revealed the repurposing of three strategic ports to support the country’s growing offshore wind industry. These are the Port of Currimao in Ilocos Norte, the Port of Batangas in Sta. Clara, Batangas City, and the Port of Jose Panganiban in Camarines Norte.
Several major players, including Copenhagen Energy, BlueFloat Energy, and Corio Generation, have expressed their interest in entering the offshore wind sector in the Philippines.
Copenhagen Energy and PGEC are developing three floating offshore wind farms in the Philippines, namely the 2 GW Northern Luzon, the 1 GW Northern Mindoro, and the 1 GW East Panay.
Corio Generation aims to develop up to five offshore wind projects totalling 3 GW in the Philippines off the coast of Cavite, Batangas-Mindoro, Iloilo, and Guimaras under wind energy service contracts (WESCs) that provide site exclusivity.
In June 2023, BlueFloat Energy announced that the company secured WESCs for four (floating) offshore wind project sites in the country.
