Department of Energy Secretary Raphael Lotilla has named the nine Chinese companies that committed to invest some USD13.76 billion in the Philippines following the recent visit of President Ferdinand R. Marcos Jr. to China.
“We are very pleased with the enthusiasm we have received from these Chinese companies during our roundtable meeting. They were upbeat with our policy reforms and directions on RE, especially on the opening of 100 percent foreign ownership on wind and solar projects,” he added. SPIC, which has the largest installed capacity of wind power in Guangxi, is involved in the 230-kV substation engineering, procurement and construction project in Navotas, the 500-kV substation EPC project in Pagbilao, the Taguig-Baras 500 kV overhead transmission line EPC, and the Abuyog 230-kV substation EPC project.
CGN is China’s pioneer in offshore wind development and largest single offshore wind power capacity. Globally, it has total capacity of 35,000 MW for wind power and 10,000 MW for solar. “I have now instructed our Renewable Energy Management Bureau and Investment Promotions Office to start communicating with them and provide the full support to hasten this particular cooperation between the Philippines and China,” Lotilla added.