Alternergy Holdings Corp., through its subsidiary Pililla AVPC Corp., partnered with Shell Overseas Investment B.V. to pursue offshore wind projects in the Philippines.
Vince Perez, Alternergy chairman, said in a briefing on Tuesday the partnership will assess the feasibility of putting up an offshore wind project in the Calavite Passage near Mindoro.
The partnership said the area of its wind energy service contract has a potential for up to 1,000 megawatts (MW) of power and that the Department of Energy (DOE) currently pegs the development costs of offshore wind projects at $5 million per MW.
“Typically, developing offshore wind projects can take anywhere between six to 10 years from finding the right location to having the consents, the permitting approved, until the point that you can take a final investment decision,” said Joe Nai, Shell general manager for offshore wind in Asia Pacific. – Jed Macapagal
