November 23 (Renewables Now) - Shell plc (LON:SHEL) has joined hands with Philippine renewable energy developer Alternergy Holdings Corp to develop an offshore wind project off Midnoro island with a potential capacity of 1 GW.
Alternergy’s subsidiary Pililla AVPC Corporation (PACO) and Shell Overseas Investment BV have sealed a formal agreement to conduct feasibility studies and potentially take a final investment decision on the scheme. Under the arrangement, Shell will hold a 40% stake in a joint venture (JV) that will work on the development, while the controlling 60% will be in Altenergy’s hands, the latter said on Wednesday.
The partners have already secured a wind energy service contract (WESC) from the Department of Energy allowing them to gauge the commercial viability of the proposal.
The selected area at the Calavite Passage between northwest Mindoro and Lubang Island is estimated to have the potential for housing up to 5 GW of offshore wind turbines, according to Shell and Altenergy. Joe Nai, general manager for Shell’s Offshore Power Asia Pacific-Renewables and Energy Solutions noted that it normally takes between six and ten years to build and commission a wind farm of a 1-GW scale.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.