PH is set for P56B allocated for upcoming wind projects

A leading German wind and solar farm developer, wpd GmbH, is planning to invest an additional P56 billion on top of the P392.4 billion previously committed for renewable energy projects in the Philippines. The company is focusing on pre-development activities for onshore projects in various regions, with an estimated combined renewable energy capacity of 565 megawatts. Additionally, wpd is undertaking development work for offshore wind farms in Cavite, Negros Occidental, and Guimaras. The President of the Philippines, together with his economic team, met with wpd officials during a working visit to Germany to discuss these renewable energy projects. The investment from wpd is considered the largest from Germany to date, reflecting the nation’s commitment to renewable energy initiatives. Furthermore, aircraft maintenance service provider Lufthansa Technik Philippines (LTP) is investing P8 billion to build a second hangar in Clark, with plans for further expansion. Bosch, a multinational engineering and technology company, has also expressed interest in investing in the Philippines’ public utility vehicle modernization program, particularly in cleaner technologies such as electric and hydrogen-powered vehicles.

Business News: PH is set for P56B allocated for upcoming wind projects