MANILA OFFICE. Government officials and executives of the Copenhagen Infrastructure Partners (CIP) inaugurate the company's Philippine headquarters at the ORE Central in Bonifacio Global City, Taguig City on Tuesday (Sept. 10, 2024). From left to right are Copenhagen Offshore Partners co-CEO Rune Damgaard and partner and co-CEO Jesper Holst; CIP partner of growth market fund Robert Helms; DENR Secretary Maria Antonia Yulo-Loyzaga; DOE Secretary Raphael Lotilla; CIP associate partner Przemek Lupa; OSAPIEA Secretary Frederick Go; Philippine Ambassador to Denmark Leo Herrera-Lim; Danish Ambassador Franz-Michael Skjold Mellbin; Copenhagen Infrastructure Service Co. regional managing director Marina Hsu and business development director Francis Isagani Daba. (Courtesy of CIP)
MANILA – Copenhagen Infrastructure Partners (CIP), the developer of the Philippines’ first 100 percent foreign-owned renewable energy project, targets to operate the country’s first offshore wind (OSW) power within the term of President Ferdinand R. Marcos Jr.
The CIP on Tuesday inaugurated its Philippine office in Bonifacio Global City in Taguig City, with Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go, Department of Energy (DOE) Secretary Raphael Lotilla, and Department of Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo-Loyzaga present in the ribbon cutting ceremony.
“The construction time is expected to be around a couple of years. And our goal really is to commission the power plant within the term of the administration,” the CIP partner of growth market fund Robert Helms said in a media rountdable.
The CIP’s first facility to operate will be the San Miguel Bay Offshore Wind Project, encompassing the provinces of Camarines Norte and Camarines Sur.
It has a capacity of 1 gigawatt, with investments of around PHP170 billion.
The project is part of the USD5-billion commitment of CIP to develop 2 GW of offshore wind project in the country.
“[O]ur intention until about mid-next year…is to spend roughly USD30 million (PHP1.69 billion) or so on development. And the good part of that has already been sort of contractually committed,” Helms said.
Part of the USD30 million investments are the pre-development works of of the OSW projects.
Copenhagen Offshore Partners co-chief executive officer Rune Damgaard mentioned that the firm commenced its Environmental Impact Assessment (EIA) last April and inaugurated its light detection and ranging (lidar), or a remote sensing method equipment that examines Earth’s surface to determine if the area is really viable for the project.
Damgaard said the CIP also submitted its System Impact Study.
“But it doesn't stop here. We have still a journey until and anticipate the year mid-next year. Some of the activities is that we will commence geophysics, geotech, so basically doing soil investigations. We will do EIA surveying. We will continue the dialogue with the banks. We will continue our measurement and technical concept studies to prepare for CIP,” he said.
Aside from the San Miguel Bay OSW Project, the company was also awarded with green lane certificate for its PHP108.3-billion 650 MW Samar North OSW Project.
CIP associate partner Przemek Lupa said these investments are possible with the push of the Marcos administration to transition to clean energy and by opening up the RE sector to full foreign equity. (PNA)
