President Ferdinand “Bongbong” R. Marcos Jr. has approved the creation of an investment council to fast-track the processing of applications from offshore wind (OSW) power developers. Know more:
PRESIDENT Ferdinand “Bongbong” R. Marcos Jr. has approved the creation of an investment council to fast-track the processing of applications from offshore wind power developers.
The Office of the Press Secretary said the President was “in favor” of the DOE proposal to create Offshore Wind Development and Investment Council, which will serve as a “one-stop shop” for OSW developers.“It should be the Department of Energy who should be talking with the OSW developers, in consultation with the council, of course. It has to be led by the DOE,” Marcos said.
DOE reported it has already approved 42 offshore wind contracts with an indicated capacity of 31,000 megawatts .
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