German firm eyes BOI registration of P55 billion worth of projects

Catherine Talavera - The Philippine Star

MANILA, Philippines — German energy firm wpd AG plans to register P55 billion worth of energy projects with the Board of Investments (BOI), according to the Department of Trade and Industry (DTI).

The projects consist of onshore wind and solar photovoltaic (PV) power projects in Aklan, Ilocos Norte, Ilocos Sur, Abra, Antique, and Bulacan.

The projects have a total planned capacity of 565.6 megawatts and a planned total investment value of at least P55 billion.

The BOI has approved wpd Philippines Inc.’s P392.4 billion offshore wind farms located in Cavite, Negros Occidental, and Guimaras, which will provide greener power solutions to local communities and businesses.

As part of the DTI’s three-week European Investment Roadshow, Trade Secretary Alfredo Pascual recently met wpd representatives, led by wpd Solar GmbH managing director Hans-Christoph Brumberg.

During the meeting, the company said the BOI-approved off-shore wind power projects in the Philippines are expected to have a combined rated capacity of 1,300 megawatts.

Apart from the wpd group, Pascual also had a virtual meeting with Messer Group CEO Stefan Messer to discuss the company’s interest in supplying industrial gas requirements in the Philippines, in a bid to meet the country’s growing demands, particularly in the steel and electronics sectors.

Messer Group is the biggest family-owned industrial gas manufacturing company in the world, which has approximately €282 billion in total assets and employs 10,000 people in Germany and in over 100 locations globally.

The company manufactures industrial gases like oxygen, nitrogen, argon, hydrogen, helium, carbon dioxide, shielding gases, and gases for medical use.

During the meeting, Pascual extended the Philippine government’s support to Messer Group by assisting the company in identifying an anchor client in the steel and electronics sectors.

Pascual also encouraged the company to consider establishing an industrial manufacturing plant in the Philippines that will provide high-quality and better-paying jobs for Filipinos.

Messer is scheduled to visit the Philippines in September for meetings with potential anchor clients in the said sectors, according to the DTI.

The Trade Secretary also had separate meetings with representatives of the Siemens Group and Bayer.

Pascual met Siemens head of government-to-government Christian Madsen, and senior director of government affairs Max Pfeiffer, to whom he signified the country’s interest in harnessing innovative technologies to accelerate its own smart city initiatives.

Siemens is a German multinational conglomerate and is the largest industrial manufacturing company in Europe, with a presence in practically all parts of the globe, including the Philippines.

The company’s global business is focused on electrification, automation, and digitalization, generating €86.85 billion in sales in 2022 and currently employing over 300,000 worldwide.

“Through the knowledge and insights gained from this visit, the DTI aims to strengthen its efforts in promoting technological innovation and forging strategic partnerships that will drive economic growth and improve the quality of life for Filipinos,” the DTI said.

Pascual also met with Bayer deputy region head for Asia Pacific and Latin America Bjoern Leschny and senior manager of global governmental affairs Britta Jacob.

vuukle comment



  • Latest
  • Trending
Are you sure you want to log out?

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

or sign in with