Norway to expand renewable energy investments in Philippines

·Contributor
·2 min read
Rows of solar panels and wind turbines in a clean energy farm generate renewable, green and sustainable energy. Norway is considering the expansion of its renewable energy investments in the Philippines. (Photo: Getty Images)
Rows of solar panels and wind turbines in a clean energy farm generate renewable, green and sustainable energy. Norway is considering the expansion of its renewable energy investments in the Philippines. (Photo: Getty Images)

Norway plans to expand its renewable energy investments in the Philippines particularly in offshore wind power, according to its envoy.

In a press briefing after his meeting with President-elect Ferdinand "Bongbong" Marcos, Jr. on Wednesday (June 15), Norwegian Ambassador Bjorn Jahnsen said that more companies and investments are expected to come to the country.

“Norway has made investments in the Philippines in renewable energy, and more companies and more investments will come in the coming years – offshore wind, floating solar, and also hydro,” Jahnsen said.

“So that’s the plan for the future for Norway and the Philippines – really to increase our imprint on renewable energy in the country,” he added.

The ambassador cited a World Bank study on offshore wind energy in the Philippines, which will be an important new sector in the country.

“I mentioned to the President-elect that according to a study by the World Bank: A Roadmap on Offshore Wind for the Philippines, which we think, will be an important new sector in the country that presents great opportunities for the Philippines in the future,” he added.

Jahnsen said that the new sector could provide 50,000 “good-paying” jobs for Filipinos.

However, he emphasized that this needs amendments in the Philippine government’s policies in foreign companies.

“For instance, foreign companies should be able to own a majority of the equity in these types of investments as they often are investments with several billions of dollars and foreign investors would like to have a certainty of having a majority stake in their investment,” he said.

“This is a great opportunity for the Philippines for a plenty supply of energy. As you know, the country is growing in economy, and energy consumption is increasing so offshore wind is really one of your best bets for the future,” he added.

Aside from energy matters, Jahnsen said he and Marcos also discussed maritime issues. He added that the Norwegian tall ship Statsraad Lehmkuhl is set to dock in Manila in October, and a conference on climate change, ocean sustainability, and renewable energy is also scheduled as part of the ship’s port call.

Pola Rubio is a news writer and photojournalist covering Philippine politics and events. She regularly follows worldwide and local happenings. She advocates for animal welfare and press freedom. Follow her twitter @polarubyo for regular news and cat postings.

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