The Energy Department of the Philippines is working with the World Bank Group to identify potential offshore sites for wind power and to help design a future market for the industry’s output.
In a statement, the Department of Energy (DoE) said that it recently launched the Philippine Offshore Wind Road Map project which will be funded by the World Bank Group’s Energy Sector Management Assistance Program (ESMAP).
Apart from identifying suitable sites, the project also aims to establish short- and long-term offshore wind targets; come up with strategies to integrate offshore wind power into the government’s renewable energy portfolio, and propose policy measures that will make it attractive to invest in offshore wind.
Early estimates indicate that the Philippines “has over 170 gigawatts (GW) of offshore wind potential,” the bank’s Offshore Wind Development Program Co-Lead Mark Leybourne said.
The World Bank engaged the UK’s BVG Associates to study the technical, economic, environmental, social, employment, and financing aspects of establishing an offshore wind market in the Philippines.
Energy Secretary Alfonso G. Cusi described the project as a “key milestone” for the energy sector.
“As the country actively pursues the energy transition, broadening our offshore wind prospects would help fast-track meeting our goal of attaining a 35% renewable energy share in our energy mix by the year 2030,” Mr. Cusi said.
The industry roadmap is part of a series of offshore wind studies commissioned by the World Bank through the joint ESMAP-International Finance Corporation Offshore Wind Development Program.
The DoE has so far awarded five wind energy service contracts to various entities pursuing projects with a combined potential capacity of five GW from offshore wind.