The document discusses the Philippine government's ambitions to develop offshore wind capacities and what is needed to build the first few projects from a developer's perspective. It notes that offshore wind could help the Philippines meet its 35% renewable energy target by 2030 in a scalable, reliable and cost-effective way. Specific points made include that the technical offshore wind potential is 178 GW, typical project costs are $1-2 billion for 500 MW, and that 5-10 years are needed for feasibility and permitting. It also outlines Triconti's offshore wind project pipeline and reasons for optimism in the sector. Key actions needed to attract investment include clearer targets and regulations, transmission upgrades, skills development, streamlined permitting and improved data access.

1. © 2022 Triconti ECC Renewables Corporation 1
Philippine Offshore Wind (OSW) Ambitions and what it will take
to build the first few capacities : A Developer’s Perspective
24 November 2022

2. © 2022 Triconti ECC Renewables Corporation 2
Our Company Heritage
◼ Triconti Windkraft Group is a Joint Venture between a German-Swiss Renewable Energy Group and Filipino Renewable Energy
Professionals
◼ Over 50 years of combined expertise and experience in the local and global power industry
◼ Among the largest independent Wind Project Developers in the Philippines
◼ Total Development Pipeline nearing 4 GW:
Onshore wind project pipeline of ~450 MW, Offshore wind project pipeline of ~3.45 GW

3. © 2022 Triconti ECC Renewables Corporation 3
Why Offshore Wind Power
Offshore Wind holds the promise to bridge the gap between future RE objectives and large-scale supply
requirements
◼ The Philippines is looking to build
20+ GW of plants from RE
sources by 2030
◼ “window is closing” for new fossil
fuel plants
35% RE Generation Mix Target
Fast and Meaningful
Capacity Building
◼ Continuous high demand growth
◼ Looming supply gap
◼ Country’s economic growth must
be supported with reliable and
cost-efficient energy supply
Energy Security. Energy Independence,
Powering Growth, Reasonable Cost to Consumer, Environmental Sustainability
DOE Goals
?
Off-shore Wind can help the Philippines rapidly close the gap and make that 35% target
a reality while still proving it competitive to conventional fuel in the following terms:
Scalability, Reliability, Price, Implementation Time

4. © 2022 Triconti ECC Renewables Corporation 4
Philippine OSW: By the Numbers
In 2019, the World Bank published the study Going Global: Expanding OSW to Emerging Markets
◼ This study assessed the OSW technical potential of the Philippines to be at 178 GW of offshore wind:
o 18 GW from near shore/ fixed bottom
o 160 GW as floating installations
◼ It costs around USD 1 to 2 billion to develop a 500 MW OSW project
o Development costs (excluding construction) estimated at around USD 30 million
o Minimum of 500 MW per project
◼ Feasibility and pre-development period can take between 5 to 10 years
o Highly dependent on the rules and guidelines per territory
◼ Average turbine sizes of 8 MW but larger turbines > 12 MW output are already being tested
o Capacity Factors of >50% have already been achieved
o Engineering advancements will continue to improve efficiencies
◼ Energy output of one 10 MW turbine can power an estimated 10,000 households.
As of
November
2022, DOE has
awarded 42
OSW Service
Contracts with
a potential of
31.5 GW of
Installed
Capacity

5. © 2022 Triconti ECC Renewables Corporation 5
Philippine OSW: Our Projects
OFFSHORE Wind Projects
◼ Iberdrola is among the top 3 OSW
developers globally and the leading
renewable energy company in the
world
◼ It operates over 37.5 GW of
renewables around the world
◼ A development pipeline of over 81.5
GW of renewable projects
7
LUZON
MINDANAO
VISAYAS
Aparri Bay
(Offshore Cagayan, 400-600 MW)
Frontera Bay I
(Offshore Cavite, 300-450 MW)
Frontera Bay II
(Offshore Cavite, 400 – 600 MW)
12
10
8
San Miguel Bay
(Offshore Camarines Norte/Sur,
400-600 MW)
Guimaras Strait I (400-600 MW)
Guimaras Strait II (400-600 MW)
- Offshore Negros Occidental
7
8
10
12
11 11
9
9

6. © 2022 Triconti ECC Renewables Corporation 6
Philippine OSW: Reasons for Optimism
The DOE has made transitioning to cleaner and more flexible sources of energy generation a key objective
2020
Awarded the first
OSW WESCs to
Triconti
(March)
DOE declared
Moratorium on
New Coal Plants
(October)
Clean Energy
Scenario included
in Philippine
Energy Plan
(November)
2021
DOE
commissioned
World Bank to
draft the OSW
roadmap
(June)
Updated NREP
sets RE
contribution to
gen mix at 35%
by 2030
(November)
2022
Launching of the
Philippine OSW
roadmap by WB
(April)
Conduct of the 1st
Green Energy
Auction
(June)
Increase of the
RPS mandated
annual % to
2.52%
(July)
DC on
Preferential
Dispatch of all RE
technology
(October)
Creation of OSW
Taskforce
Amendment of RE
Act IRR allowing
100% Foreign
participation in RE
projects
(November)

7. © 2022 Triconti ECC Renewables Corporation 7
Philippine OSW: Attracting Investment
Less Risk and Uncertainty the more interest to invest in the Philippine OSW sector
• Clearly defined, long-term Installation MW Targets for OSW
• Refinement of the Competitive Selection Process (CSP)
• Allow the WESM to function fully
ROUTES
TO MARKET
• Transmission interconnection upgrades
• Port Infrastructure development
• Specialized technical training
• Identification of all OSW stakeholders
• Permit mapping
• Expand coverage of Energy Virtual One Stop Shop (EVOSS)
-
INFRASTRUCTURE &
SKILLS
ENHANCEMENT
PERMITTING
AND
STAKEHOLDER
MANAGEMENT
DATA ACCESS
• Inventory of available data that can be used to set study baselines
• Building an easily accessible database available to developers and investors

8. © 2022 Triconti ECC Renewables Corporation 8
Philippine OSW: Attracting Investment
The DOE needs to act as the Market Maker suitable to the characteristic of Renewable Energy
ROUTES
TO MARKET
• Clearly defined, long-term Installation Targets for OSW
o Annual/Regular conduct of Green Energy Auction (or similar mechanisms) be institutionalized
o Differentiation of onshore from offshore wind GEAR rates
o Review cost methodology for succeeding GEAR prices
o Allow annual indexation
o Reasonable and logical tariffs
• Further improve Competitive Selection Process for DUs/Cooperatives to allow it as a viable
market for RE
o Capability Building for the DUs/ ECs Technical and TPBACs
o To allow alignment between the need of DUs/ECs for dependable power and the
characteristics of RE technology
o Sourcing and integrating more flexible energy supply to meet their franchise demand profile
o Allow the WESM to function fully and allow it to be a viable merchant market for RE
o Revisit the possibility of increasing the WESM bid cap
o Operationalize the Renewable Energy Market
o Explore potential of CFD that may allow financing for fully merchant OSW project

9. © 2022 Triconti ECC Renewables Corporation 9
Philippine OSW: Attracting Investment to the Philippine OSW Sector
Upgrades to Critical Infrastructure must be implemented to avoid delays or stranding of assets
• Transmission Upgrades will be needed to reinfoallow injection of the expected energy for OSW
farms
o Expediting the System Impact Study (SIS) process
o Identification and Proactive upgrading of Transmission Assets in high potential RE zones
o System Operations must adjust to deal with preferential dispatch of OSW wind farms
o Proper planning, building and reinforcement of the grid
o Adequate contracting of Ancillary services
o Enforcement of proper systems planning to avoid overburdening regional grids (i.e. Negros)
o Storage systems/facilities for excess energy generated during low demand high supply hours
• Port Infrastructure Upgrading
o Retrofitting/Upgrading existing ports to accommodate delivery, storage, staging and assembly of
OSW components and servicing
o Regional/ports to serve as dedicated hubs for OSW construction and operations.
▪ Specialized Skill Training Development
o Develop programs to harness and enhance the skills of the Filipinos to take advantage of the
employment opportunities presented by this new sector
INFRASTRUCTURE
ENHANCEMENT

10. © 2022 Triconti ECC Renewables Corporation 10
Philippine OSW Sector: Attracting Investment to the Philippine OSW Sector
Identify and Remove any Permitting “Gray Areas” to expedite development
PERMITTING &
STAKEHOLDER
MANAGEMENT
• Identification and inclusion of all relevant stakeholders (i.e. National and Local agencies) in
OSW implementation frameworrk
o Clarify areas of jurisdiction and eliminate/harmonize conflict areas
o Dissemination and education of their involvement in OSW and their respeci
o Develop prioritization protocol or inter-agency TWG to quickly resolve jurisdictional conflicts
• Permit Mapping
o Develop WESC guidelines specific to OSW technology
o Develop clear and transparent permitting process across all levels of government (i.e. National
down to Municipal)
o Standardize requirements
o Protocols in engaging with host barangays etc;
o Hire dedicated personnel to handle OSW permit processing
o Capability building for regulators
o Expansion of EVOSS coverage
o Inclusion of all concerned agencies (e.g. NCIP, NGCP, DENR, etc.)

11. © 2022 Triconti ECC Renewables Corporation 11
Philippine OSW Sector: Attracting Investment to the Philippine OSW Sector
Locate, Identify and Catalogue existing Data to make it useful and available
• Build Data Inventory
o Identify, collate and digitize data that may be used by developers for the feasibility studies. (e.g.
geotechnical, bathymetry, maps, habitat, etc.)
o Settle on additional data to be collected that will useful to help attract investors to the Philippines
• Build an Accessible Database
o Reasonable cost for data access
o Including the following:
o Socio-economic data
o Employment and Skills data
o Meteorological/ Weather data
o Etc.
DATA ACCESS

12. © 2022 Triconti ECC Renewables Corporation 12
THANK YOU FOR YOUR TIME