Consortium Secures First Philippine Offshore Wind Grid Deals

A partnership formed by Seawind Asia, Stream Invest, and Triconti ECC Renewables has obtained the Philippines’ first grid connection agreements for offshore wind developments.

The agreements relate to three proposed sites with a combined capacity of 1.65 GW. These include the 450 MW Frontera Bay project, as well as the 600 MW Guimaras Strait and 600 MW Guimaras Strait II projects.

Securing access to the grid removes a significant obstacle for offshore wind developers, particularly in light of pressure on the country’s transmission network. The approvals also strengthen the consortium’s position ahead of the government’s fifth Green Energy Auction (GEA5), scheduled for later this year.

While financial figures have not been disclosed, similar offshore wind ventures in the region suggest investment levels are likely to run into the billions of US dollars.

The projects support the Philippines’ broader objective of increasing renewable energy’s share of the power mix to 35 percent by 2030 and 50 percent by 2040, reducing dependence on imported coal and gas.

“The issuance of these agreements provides a necessary level of de-risking for the consortium as it prepares its bids for the upcoming auction,” said Sascha Lindemann, managing director of Triconti.

Theo C. Sunico, Triconti’s director for regulatory and markets, noted that the development sends a positive message to investors, highlighting government backing for large-scale offshore wind initiatives that require substantial capital investment.