The Philippines Department of Energy (DOE) has started an Offshore Wind Roadmap initiative with World Bank Group funding (WBG). The project, funded by the World Bank’s Energy Sector Management Assistance Program (ESMAP), targets to identify sites in the Philippines with significant potential for offshore wind development.
Under the initiative, policy proposals will be made to promote a favourable business climate for offshore wind investors. Its goals also include creating short and long-term offshore wind targets, as well as developing methods for effectively integrating offshore wind into the government’s renewable energy portfolio. The country’s energy administration predicts that an extra 43.7 GW of new power capacity would be required by 2040, with current peak demand projected to be 15.6 GW. The government intends to reach 35 per cent renewable energy in the power generating mix by 2030, with more than 2GW projected from the wind industry.
Already having a more established market in Europe, offshore development is picking up in Asia as well, with the Philippines’ initiative adding to steps taken by other Asian countries such as Taiwan, Vietnam, Japan and China. According to the World Bank, the Philippines is one of eight global emerging markets that may accelerate the development of floating wind projects with a potential capacity of 160 GW in offshore areas within 200 kilometres of its coast. The WBG commissioned BVG Associates (BVGA) to investigate the technical, economic, environmental, social, employment, and finance issues of developing an offshore wind market in the Philippines for the new offshore wind project. Currently, Philippines’ DOE has granted five Wind Energy Service Contracts (Guimaras Strait Wind Power Project, Aparri Bay Wind Power Project, Guimaras Strait II Wind Project, Frontera Bay WPP, and San Miguel Bay WPP) totaling 5GW of offshore wind capacity.