German Wind

By Prince Golez

President Ferdinand Marcos Jr. welcomed the plan of wpd GmbH, a German wind and solar farm developer and operator, to invest P392.4 billion in the Philippines to build offshore wind farms.

The wpd GmbH, which is headquartered in Bremen, Germany and is actively engaged in 29 countries worldwide, intends to set up offshore wind farms in Cavite, Negros Occidental, and Guimaras.

“Thank you for coming in and to continue having an interest in the Philippines. I think that it is a very fertile investment especially for your industry, and business. And we are of course, like everybody else, working very hard to move the share of energy production and fossil fuels to renewable and wind, solar, hydro, and nuclear,” the President said during a meeting with wpd GmbH Chief Finance Officer Björn Nullmeyer and other officials.

“So, I hope we can avail these new technologies now in terms—because–all our wind farms now are land-based, we haven’t done anything offshore. So, there’s much–we have much to learn from organizations like yours on how to handle it. What would be the capital requirements? What would be technical requirements?” he remarked.

All of these investments in the energy sector are important because of the administration’s industrialization thrust, with sufficient energy supply being a critical part of its future plans, said Marcos Jr.