The Center for Energy, Ecology, and Development on Thursday welcomed the proposed creation of an investment council meant to fast track the processing of applications from offshore wind power developers.
On Wednesday President Ferdinand R. Marcos Jr., met with Energy Secretary Raphael P.M. Lotilla. The Office of the Press Secretary said the President was “in favor” of the DOE proposal to create Offshore Wind Development and Investment Council, which will serve as a “one-stop shop” for OSW developers.
CEED is hoping that this development will “put to rest legislative priorities initially laid out during SONA on advancing midstream, downstream, and upstream gas.” Arances urged the DOE to develop an energy plan “that prioritizes a thriving mix of renewables, which is capable of providing genuinely sustainable and reliable power.”
Under a “low-growth scenario,” the roadmap suggests that the Philippines has the potential to install three gigawatts of offshore wind by 2040, making up 3 percent of the country’s electricity supply.
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