Spanish firm BlueFloat Energy announced Friday its market entry in the Philippines through the acquisition of wind energy service contracts for four sites in the Philippines—Central Luzon, South Luzon, Northern Luzon and Southern Mindoro.
“We are thrilled to bring BlueFloat Energy’s expertise and experience in offshore wind energy to the Philippines. We believe that by tapping into the country’s vast clean energy potential, we can make a significant contribution towards reducing carbon emissions and fostering a sustainable future for generations to come,” BlueFloat Energy Carlos Martin chief executive said during his visit to the country to announce the company’s market entry to the Philippines.
Offshore wind has emerged as one of the game changers in the global energy transition, providing scaled solutions to governments looking to shift towards renewable energy sources while achieving energy security.
The Philippine offshore wind roadmap released in April 2022 by the Department of Energy and the World Bank Group estimated that the Philippines has the potential to install 21 gigawatt-hours of offshore wind power by 2040.
BlueFloat Energy has been working for more than 18 months on unlocking this offshore wind potential by exploring the development of floating wind.