Wind Energy – Philippines
Today The World Bank has published its Offshore Wind Roadmap for the Philippines.
Under a high-growth scenario, the Philippines could deliver 21GW of offshore wind by 2040, supplying +20% of local power demands, supporting +200k FTE local jobs and generating +US$14bn in economic benefits.
The roadmap provides 39 recommendations for next steps to overcome the challenges facing offshore wind development in the Philippines and capitalize on the many benefits it can bring.
There has already been a huge amount of private sector interest in this new market opportunity; so far, the Department of Energy Philippines has awarded 30 Wind Energy Service Contracts, representing +20GW of offshore wind capacity.
The roadmap is the first step in establishing the Philippines’ offshore wind market and we look forward to continuing to provide support to the government on journey ahead.