Mitsui O.S.K. Lines Ltd. (MOL), a leading global shipping company, is eyeing offshore wind (OSW) projects in the Philippines as part of its sustainability efforts. Yasunori Takamatsu, MOL chief representative in the Philippines, said the company is exploring partnerships with local entities to harness business opportunities in the country’s deep-water regions. MOL has existing synergies with affiliate firms and expertise in both fixed and floating OSW projects, including investments in a Norwegian company and the acquisition of Modec, a Japanese floating production service firm.
The domestic energy sector has made significant strides, with the Department of Energy (DOE) supporting 16 OSW projects that could generate 16,652 MW by 2028. Notably, MOL’s sustainability initiatives include dual-fuel ships and the Wind Hunter project, which uses wind and hydrogen for cargo ship propulsion.
The potential for MOL’s involvement in the Philippine offshore wind market is a key economic development opportunity for the country, contributing to renewable energy growth and fostering international collaboration in the energy sector.
