European-backed projects get go-signal for grid access

February 24, 2026 | 12:00am

MANILA, Philippines — Three European-funded offshore wind projects worth over P303 billion in Luzon and Visayas have received approval to connect to the country’s power transmission network.

Filipino-Swiss firm Triconti ECC Renewables and Europe’s Stream Invest Holdings AG and Seawind Asia AG have secured the go-signal from the grid operator for their 450-megawatt Frontera Bay and 1,200-MW Guimaras Strait projects.

Frontera lies outside Manila Bay, bordering Cavite and Bataan, while the two Guimaras Strait projects — each with a 600-MW capacity — will rise along the shores of Negros Occidental.

Triconti regulatory and markets director Theo Sunico said the issuance of grid access clearances “sends a strong signal” to both investors and project developers.

“It shows the Philippine government’s commitment to support the offshore wind industry and highlights the real value that international partnerships can bring to the country’s green energy transition,” he said.

Based on the consortium’s financial projections, Frontera is valued at P81.68 billion, while each of the Guimaras Strait projects is estimated to cost P110.88 billion.

Although timelines remain under wraps, the projects are already in advanced preparation for the government’s fifth green energy auction (GEA-5) round later this year.

GEA-5 will offer 3,300 MW of fixed-bottom offshore wind capacity, with delivery scheduled from 2028 to 2030, according to the Department of Energy.

The consortium is now ramping up development activities to ensure a strong showing in the upcoming auction round and to move the projects steadily toward completion.

Just last week, the Energy Regulatory Commission (ERC) set a GEA reserve (GEAR) price of P11 per kilowatt-hour for the offshore wind auction, higher than the initially proposed P10.3859 per kWh.

The GEAR price serves as the maximum allowable bid for the supply of electricity.

The Wind Energy Developers Association of the Philippines Inc. (WEDAP) welcomed the higher GEAR price for GEA-5, noting that it could help “attract credible bidders.”

“We recognize and greatly appreciate the balancing act of the ERC to provide the lowest possible reserve price that investors would believe will support 20-year projects of a scale that the Philippines has not seen for renewable energy and will set the stage for transformational transition in the country,” WEDAP said in a statement yesterday.

While the GEA-5 ceiling price is higher compared to other technologies, Juan Paolo Colet of China Bank Capital Corp. said Filipinos should see this as a “long-term investment” in energy security and sustainable growth.

“Offshore wind projects also help in pushing grid, port and other infrastructure development, so there are economic dividends apart from clean power,” Colet told The STAR when asked for insights.

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