Philippines National Oil Company (PNOC), a state-run utility, is seeking a budget of PHP2.209 billion for 2024 from the Government of the Philippines for its energy projects. This includes PHP1.43 billion required for five of its solar and offshore wind initiatives across the country.
Plans call for transforming a 19.2 hectare property in Mabini, Batangas into an integration port to support offshore wind power development in nearby service contract areas. Redevelopment work is expected to take around 2 years to finish and the first turbine will come online in 2026.
PNOC is also aiming to install solar PV capacity in select islands by 2025 to support National Power Corporation’s (NPC) goal of reducing generation cost in off-grid areas. Additionally, the utility also plans to provide additional energy security to Bataan Industrial Park for LNG projects.