Energy Secretary Raphael Lotilla said the creation of offshore wind (OSW) power plants will address the country’s growing power needs.
President Marcos Jr approved the construction of an investment council to fast-track the processing of applications from offshore wind (OSW) power developers.
Energy Secretary Raphael P.M. Lotilla and other energy officials presented their exploration and development plan for OSW during a closed-door meeting with Marcos on Wednesday, when he made the confirmation.
The President was in favor of the DOE proposal to create the Offshore Wind Development and Investment Council, which will serve as a “one-stop shop” for OSW developers, Business Mirror reported.
Marcos said that he wants the DOE to oversee the regulations of OSWs
“It should be the Department of Energy who should be talking with the OSW developers, in consultation with the council, of course. It has to be led by the DOE,” Marcos said.
Lotilla recommended the creation of the council in response to the "strong interest" expressed by foreign companies in giving the country access to OSW technologies.
DOE said that 42 offshore wind contracts with a potential of 31,000 megawatts have already been approved.
By 2050, the country has the capacity to deploy 40 gigawatts of OSW electricity, which will help meet the country's increasing power needs, based on the OSW Roadmap published by the World Bank.
“This is more than enough to cover the 500,000 megawatts projected peak demand the country will require by 2040 based on DOE’s medium to long-term power outlook,” Lotilla said.
Tags: #DOE, #PresidentMarcos, #OSWs