MANILA, Philippines — JERA Co. Inc., Japan’s largest power generation company, is willing to back Aboitiz Power Corp. should it decide to pursue offshore wind projects.
Shinsuke Nakayama, JERA’s executive officer and head of the Asia platform business group, expressed the Japanese company’s interest in providing support to AboitizPower in the field of offshore wind.
Nakayama emphasized that renewable energy is one of the key areas for potential collaboration between AboitizPower and JERA.
He cited the ongoing dialogue between the two companies to explore various avenues of cooperation in the renewable energy sector.
“JERA is building up capabilities, especially in offshore wind so that’s another area,” Nakayama said.
JERA, which holds assets in various countries across the world, aims to increase its renewable energy assets from the current 1.2 gigawatts (GW) to five GW by 2025.
The company has equity interests in offshore wind projects in Taiwan.
JERA and AboitizPower earlier identified potential areas for collaboration across multiple fronts, including exploration of the use of new generation technologies. AboitizPower, however, has yet to come out with firm plans when it comes to offshore wind.
AboitizPower president and CEO Emmanuel Rubio acknowledged that while the development of offshore wind projects in the country is currently costly, the company is eagerly awaiting further advancements in this area.
However, he said that as technology becomes more competitive, offshore wind should become a viable option with a higher capacity factor than onshore wind.
Last year, AboitizPower entered into a partnership with Clime Capital Management and Rocky Mountain Institute to conduct a feasibility study on developing up to three GW of offshore wind energy projects in the country.
Last June 16, the Department of Energy (DOE) promulgated a department circular which provides the policy and administrative framework for the efficient and optimal development of the country’s offshore wind resources applicable to all permitting agencies.
The policy and administrative framework define the implementing guidelines earlier issued by the DOE through a set of rules and procedures for permitting agencies with respect to the issuance of permits and licenses for offshore wind projects.
The DOE has so far awarded 66 offshore wind contracts with a total potential capacity of 53.85 GW.
The Philippines offshore wind roadmap launched last year showcased the country’s potential offshore wind resources estimated at 178 GW.