4C is now TGS

We are excited to announce a significant milestone in 4C Offshore's journey. Our integration into the TGS family marks the beginning of a new era in offshore wind market intelligence.

Learn what this means for you!

PetroGreen and Copenhagen Energy join forces for offshore wind in Philippines

By: Tom Russell 08/11/2022 PGEC

General Windfarms

PetroGreen Energy Corp. (PGEC) and its partner Copenhagen Energy (CE) will form three separate special purpose vehicles (SPV) that will oversee the investment and development of their offshore wind service contracts awarded by the Department of Energy Philippines (DOE) in 2021.

Incorporation documents were signed on 4 November 2022, by PGEC and CE for Northern Luzon, Northern Mindoro, and East Panay with total aggregate capacity of about 4 GW.

Danish Ambassador to the Philippines Franz-Michael Skjold Mellbin declared, “This investment and joint venture by Copenhagen Energy with PGEC testifies to Denmark’s strong belief in the potential of offshore wind in the Philippines and to our support for President Marcos Jr.’s high priority on renewable energy to increase power supply and to reduce carbon emissions in the country.”

PGEC is the renewable energy holding unit of Yuchengco-led and publicly listed PetroEnergy Resources Corp. (PERC). Through its operating subsidiaries, PGEC also operates five power stations using geothermal, wind, and solar energy. These are the 32 MW Maibarara Geothermal Power Plant in Batangas, 36 MW Nabas Wind Project with ~14 MW planned expansion in Nabas and Malay, Aklan, and the 70 MWDC Tarlac Solar Project in Tarlac City.

Recently, PGEC also launched its Dagohoy solar project in Bohol which will increase its total solar operating units to 100MW while PetroWind Energy, Inc. (PWEI), its onshore wind unit, won the Visayas grid wind allocation in the first DOE Green Energy Auction Program (GEAP) last June 2022.

CE is a Danish energy trading and developer of solar, onshore wind, and offshore wind projects. Incorporated in 2020, Its offshore wind pipeline has grown to over 28 GW, with projects across Denmark, Australia, Ireland, Italy, and the Philippines.

“In our courtesy call to Secretary Raphael P.M. Lotilla after the signing of the three SPVs, he extended his appreciation to PGEC for increasing our investments in the energy sector, particularly in renewable energy, through the Buhawind Energy joint venture. He particularly stressed that offshore wind will be a significant pillar in the country’s transition to clean energy fuel adding that it will provide a climate-friendly power source as a replacement to conventional and aging power plants”, said Mr. Francisco G. Delfin Jr., Vice President and Chief Operating Officer of PGEC.

“Secretary Lotilla also mentioned that this partnership, a combination of foreign capital and technology with local knowledge and experience would help strengthen cooperation between the two countries by way of knowledge sharing in renewable energy development”, Mr. Delfin Jr. added.

“Aside from private investments, Denmark is also exploring ways to cooperate with the Philippine government to remove barriers to commercial offshore wind development through assistance or institutional knowledge sharing in grid planning and reinforcements, environmental monitoring, and other related experiences. Such collaboration can only strengthen the economic and people-to-people ties between Denmark and the Philippines,” added Ambassador Mellbin.

For more information on offshore wind farms worldwide, click here.

Premium

4C Offshore Premium, our most popular subscription, gives you full access to use the 4C Offshore WebApp which includes exclusive offshore wind, transmission and vessel reports, news and downloads.

Request a 30 minute Demo

PetroGreen and Copenhagen Energy join forces for offshore wind in Philippines

Back to News

Trending News!