A Norwegian company will invest billions of dollars to build 2,400 megawatts of onshore and offshore wind projects in the Philippines as it expands its renewable energy presence over the long term, a top executive said over the weekend.
“We have five sites. One is onshore wind; the rest are offshore. [A total of] 2.4 gigawatts wind licenses we have in the Philippines,” Scatec general manager for Southeast Asia Torbjorn Elliot Kirkeby-Garstad said during the Norway-Philippines Maritime & Energy Conference.
He said the projects would require “billions of dollars” to build.
“This will be in partnership with a Filipino company regardless of the change of Foreign Ownership Law. We are not doing this alone. This will be with a local partner,” Garstad said.
He said Aboitiz Power Corp. is an “obvious choice” as a partner for the wind projects, as it is a part of SN Aboitiz Power Corp. Scatec completed the acquisition of SN Power, also a Norwegian firm, in January 2021.
[Alena Mae Flores]