PetroGreen Energy Corporation (PGEC), a company led by the Yuchengco group, has signed a strategic cooperation agreement with Chinese wind turbine manufacturer Ming Yang Smart Energy Group Ltd. The agreement was signed on 6 November in Zhongshan, China. It aims to explore the development of offshore wind projects in the Philippines. In separate segments of the offshore sector, Murphy Oil has become operator of six offshore gas licences in Israel, while TotalEnergies is preparing Alberdi and studying offshore exploration off Argentina.

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A first 2 GW project in Ilocos Norte

The cooperation initially focuses on the Northern Luzon Offshore Wind Project, with a planned capacity of 2 gigawatts (GW). The project is located in Ilocos Norte and is being developed by Buhawind Energy Northern Luzon Corporation (BENLC), a PGEC affiliate.

Under the agreement, the two companies will conduct technical, logistical and economic studies. These will cover offshore wind turbine technologies, projected energy production, development approaches and estimated project costs.

Training and other areas of cooperation

Ming Yang will also support training programmes to develop offshore wind expertise. They will target engineering students, faculty members and other professionals in the Ilocos Region.

The two groups also discussed potential cooperation in other areas of the Philippine renewable energy sector, including battery energy storage systems and solar power.

The agreement provides a framework for evaluating potential projects. Specific commercial and investment arrangements will be discussed separately and formalised through definitive agreements, meaning no quantified financial commitment has been announced at this stage.