The Philippines Launches a New Wind Energy Project

The Philippines Department of Energy (DOE) has announced its fifth green energy auction (GEA-5) as the country pushes for greater offshore wind energy resources. GEA-5 is the first auction to focus solely on fixed-bottom offshore wind technology, boasting a wind farm installation of 3.3 GW. The Philippines’ DOE chose a fixed-bottom offshore wind project due to its reliability, cost efficiency, and scalability. The construction of this wind farm is expected to begin between 2028 and 2030.
Many companies are interested in this new green energy auction, with some early-stage projects already in progress. Three projects have already met the prerequisites for GEA-5. Iberdrola, a Spanish renewable energy company, has a 450 MW project on the Frontera Bay in the Philippines that has recently entered the commercial phase. Additionally, Triconti Windkraft, a Filipino-Swiss renewable energy developer, has two 600MW projects in the Guimaras Strait that have also recently entered into commercial phases. These preliminary projects, along with many others, will help the Philippines achieve its significant goal of 21 GW of offshore wind capacity by 2040, as well as demonstrate how foreign developers can find new business in addition to contributing toward sustainability goals.