PetroGreen, Copenhagen Energy to form SPVs for 4GW offshore wind in the Philippines

They were awarded offshore wind service contracts in 2021.

PetroGreen Energy, the renewable energy holding of PetroEnergy Resources, and Copenhagen Energy will form three special-purpose vehicles (SPV) for the investment and development of offshore wind projects with a total capacity of four gigawatts.

In a statement, PetroGreen said the incorporation documents for the Buhawind Energy Northern Luzon, Buhawind Energy Northern Mindoro, and Buhawind Energy East Panay were signed last 4 November.

The service contracts were awarded by the Philippine Department of Energy in 2021.

READ MORE: Rapid growth seen in Asia’s offshore wind capacity: report

PetroGreen operated five power stations which are the 32-megawatt (MW) Maibarara Geothermal Power Plant in Batangas, 36 MW Nabas Wind Project with around14 MW planned expansion in Nabas and Malay, Aklan, the 70 MWDC Tarlac Solar Project in Tarlac City, and the recently launched Dagohoy solar project in Bohol which increased its total solar capacity to 100MW.

Copenhagen Energy, meanwhile, has a pipeline of over 28GW across Denmark, Australia, Ireland, Italy, and the Philippines.