Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Design of Camarines Norte port serving wind farms approaching completion

Design of Camarines Norte port serving wind farms approaching completion – BusinessWorld Online


      
      
      
      
      








NICHOLAS DOHERTY-UNSPLASH

THE Philippine Ports Authority (PPA) is currently finalizing the design for a port improvement project at a new site in Camarines Norte, which will support the offshore wind industry.

“We are finalizing the engineering designs for a new site in Mercedes, Camarines Norte and will bid out the construction of said port as soon as the program of works is completed,” PPA General Manager Jay Daniel R. Santiago said in a message to BusinessWorld. 

The port regulator had announced last month that it will recommend the cancellation of the auction for the Jose Panganiban, Camarines Norte port improvement project.

“We are canceling the bidding for the Panganiban Port Project as the site was determined to be technically not suitable,” Mr. Santiago said.

In January, the PPA allocated P2.11 billion to improve Jose Panganiban port to make it suitable for servicing the offshore wind industry.

The Department of Energy (DoE) had designated Jose Panganiban as one of three ports scheduled for repurposing for the offshore wind industry. Situated close to 14 offshore wind energy service contracts, Jose Panganiban was being positioned to service wind farms with an estimated capacity of 8,150 megawatts. Two wind projects in the area are in the advanced pre-development phase.

Jose Panganiban had been among the PPA’s 14 flagship projects valued at P16 billion, scheduled for completion by 2028.

To date, the DoE has awarded 92 offshore wind energy service contracts to 38 renewable energy developers with a total potential capacity of 69.06 gigawatts (GW).

According to the Philippine Offshore Wind Roadmap, the Philippines has a potential capacity of about 63 GW from offshore wind resources. Also identified as priorities for redevelopment as offshore wind service bases are Currimao, Ilocos Norte and Sta. Clara, Batangas City.

In 2024, the PPA awarded the P839.18-million Currimao Port expansion project to Davao construction company Khan Kon Chi Construction and Development Corp. — Ashley Erika O. Jose

CEDTyClea





    You May Also Like

    Finance

    The Hollywood owners of Wrexham AFC, Ryan Reynolds and Rob McElhenney, are on the hunt for new investors as they continue their ambitious push...

    Stock Markets

    US President Donald J. Trump announced he will impose a 10% baseline tariff on all imports to the United States. — REUTERS By Aubrey...

    Finance

    Technology entrepreneur Tom Adeyoola has been named as the government’s preferred candidate to head Innovate UK, the country’s £1.1 billion-a-year innovation agency, at a...

    Finance

    Manchester United legend Eric Cantona has launched a scathing attack on Sir Jim Ratcliffe, accusing the club’s minority owner of “trying to destroy everything”...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.