Offshore wind developer Corio preps to bid in Philippine auctions

Global offshore wind developer Corio Generation plans to submit offshore wind projects in upcoming auctions in the Philippines, which is considered a major potential offshore wind growth market, it said on Wednesday.

The company's deputy chief executive Alejandro de Hoz last week visited Manila and met with Raphael Lotilla, Secretary of the Department of Energy, as it looks to participate in the country’s upcoming green energy auction in 2024.

Corio, a portfolio company of the Macquarie Group, seeks to develop up to five projects totalling 3 GW under wind energy service contracts that grant site exclusivity. The projects will be located off the coasts of Cavite, Batangas-Mindoro, IIoilo and Guimaras, and will comprise 2 GW of fixed-bottom and 1 GW of floating platforms.

“Our team has been exploring multiple opportunities in the country and is optimistic about participating in future auctions,” said de Hoz.

The Philippines aims to have 35% of renewables in its energy generation mix by 2030 and 50% by 2040.

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