The Department of Energy with support from the World Bank virtually launched the Philippine Offshore Wind Roadmap to take advantage of wind power potential of over 170,000 megawatts.
Energy Secretary Alfonso Cusi expressed appreciation for the support of the WBG in helping the Philippines bolster the development and utilization of wind energy.
"As the country actively pursues the energy transition, broadening our offshore wind prospects would help fast-track meeting our goal of attaining a 35-percent renewable energy share in our energy mix by the year 2030. This project is another key milestone for the energy sector, as we continue to deepen our ability to harness the country's vast RE resources," Cusi said in a statement.
Funded through the WBG's Energy Sector Management Assistance Program, the project aims to identify areas in the Philippines with high potential for offshore wind development; establish short and long-term offshore wind targets; formulate strategies to successfully integrate offshore wind in the government's renewable energy portfolio; and recommend policies necessary to foster a conducive business environment for offshore wind investors.
The WBG commissioned BVG Associates to explore the technical, economic, environmental, social, employment and financing aspects of establishing an offshore wind market in the Philippines.
WBG Offshore Wind Development Program co-lead Mark Leybourne said early estimates indicate that the Philippines has over 170 gigawatts or 170,000 megawatts of offshore wind potential.
Offshore wind projects are situated in bodies of water which are said to have stronger wind potential than onshore wind projects.
Leybourne assured the DOE on the delivery of a "robust, independent and practical assessment of the possible ways forward for offshore wind in the Philippines."
The DOE awarded five wind energy service contracts to date to Guimaras Strait Wind Power Project, Aparri Bay Wind Power Project, Guimaras Strait II Wind Project, Frontera Bay WPP and San Miguel Bay Wind Power Project with the combined potential capacity of 5 GW.
The Philippine Offshore Wind Roadmap is among the series of offshore wind roadmap studies commissioned by the WBG under the joint ESMAP-International Finance Corporation Offshore Wind Development Program.