Berlin: German Wind and Solar Farm Developer Commits to Investing in the Philippine Renewable Energy Sector
Berlin-based company, wpd GmbH, a leading developer of wind and solar farms in Germany, has pledged to invest a substantial amount of P392.4 billion in the Philippine renewable energy sector. This announcement was made during a meeting between President Ferdinand Marcos Jr. and wpd GmbH officials, led by Chief Finance Officer Björn Nullmeyer, in Berlin on Tuesday.
Investment in Offshore Wind Farms
The investment from wpd GmbH will be utilized for the construction of offshore wind farms in Cavite, Negros Occidental, and Guimaras. The combined capacity of the offshore wind projects in Cavite and Negros is estimated to be 3,260 megawatts, with a total value of P400 billion.
Optimism for Modern Technology and Industrialization
President Marcos expressed optimism about the modern technology that wpd GmbH will bring to the Philippines. He thanked the company for their interest in investing in the country, particularly in the renewable energy industry. Marcos emphasized the government’s commitment to transitioning from fossil fuels to renewable energy sources like wind, solar, hydro, and nuclear power.
The president highlighted the significance of investments in the energy sector for the administration’s industrialization thrust. By attracting foreign investments and leveraging advanced technologies, the government aims to drive economic growth and create employment opportunities.
Wpd GmbH: A Global Presence
Wpd GmbH is a renowned developer and operator of onshore wind and solar photovoltaic projects. Headquartered in Bremen, Germany, the company has an extensive presence in 29 countries across Europe, Asia, and the Americas. Their expertise and experience in the renewable energy sector make them a valuable partner in the development of the Philippine renewable energy industry.
Partnership with Bosch for Public Utility Vehicle Modernization
President Marcos also expressed interest in partnering with German firm Bosch for the implementation of the country’s public utility vehicle (PUV) modernization program. During a meeting with Vijay Ratnaparkhe, the Regional President of Bosch for Southeast Asia and Bosch Singapore Managing Director, Marcos welcomed Bosch’s venture in Asia’s transportation sector.
The president acknowledged the importance of transitioning to cleaner technologies in the transportation sector, such as electric vehicles (EVs) and hydrogen-powered vehicles. He appreciated Bosch’s research and development efforts in these areas and recognized the potential for collaboration in achieving sustainable and efficient public transportation in the Philippines.
Conclusion
The commitment of wpd GmbH to invest in the Philippine renewable energy sector is a significant development for the country’s energy landscape. The construction of offshore wind farms in Cavite, Negros Occidental, and Guimaras will not only contribute to the generation of clean and sustainable energy but also boost economic growth and create job opportunities.
Furthermore, the potential partnership between the Philippine government and Bosch in the PUV modernization program highlights the country’s determination to embrace cleaner and more efficient transportation solutions. Collaborating with global leaders in renewable energy and transportation technologies will accelerate the country’s progress towards a greener and more sustainable future.
The investments and partnerships forged with international companies like wpd GmbH and Bosch demonstrate the Philippines’ commitment to environmental stewardship and economic development. These initiatives will undoubtedly contribute to the country’s energy transition and position it as a leader in renewable energy adoption in the region.
Source: The Manila Times