Hogan Lovell OffshoreBook 2023 230809 OnlinePDF - Flipbook - Page 224
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Republic of the Philippines
Based on its media release dated 30 March
2023, the DOE, as of such date, has awarded
57 service contracts for OSW energy with a
total potential capacity of about 42 GW that
will be developed in the coming years. 6
2. OFFSHORE WIND
PROMOTION SYSTEM
2.1 Nationality restriction of the
OSW developer
The Renewable Energy Act of 2008 (RE
Act) establishes the framework for the accelerated development and advancement
of RE resources and the development of a
strategic program to increase its utilization. 7 The RE Act provides certain incentives
to RE developers. 8 To avail the incentives
and privileges, the Implementing Rules
and Regulations of the RE Act (RE Act IRR)
requires that the RE developers be registered with the DOE through the Renewable
Energy Management Bureau (REMB). 9 The
registration requires the RE developer to
hold10 a valid RE Service/Operating Contract (RE Contract).11
While the RE Act does not require any
minimum Filipino ownership to obtain
an RE Contract, the RE Act IRR previously
limited12 the award of an RE Contract to
those corporations the capital of which is
at least 60% owned by Filipinos. In particular, RE Act IRR provided that all forces
of potential energy and other natural
resources are owned by the State and shall
not be alienated. These include potential
energy sources such as kinetic energy
6 Department of Energy, Press Release, 100% foreign-owned company signs 3 OSW Service Contracts with DOE available at https://www.doe.gov.ph/
press-releases/100-foreign-owned-company-signs-3-osw-service-contracts-doe (last accessed May 8, 2023).
7
RE Act, Section 3.
8
RE Act, Section 15.
9
RE Act IRR, Section 18(A).
10 RE Act IRR, Section 18(A)(1).
11 RE Act IRR, Section 18(A)(1).
12 RE Act IRR, Section 19(B).
