DoE and World Bank launch the Philippine Offshore Wind Road Map

The Department of Energy (DoE) has recently launched the Philippine Offshore Wind Road Map, a project that aims to identify potential offshore sites for wind power and help design a future market for the industry’s output.

The project is funded by the World Bank Group’s Energy Sector Management Assistance Program (ESMAP).

Apart from identifying potential sites, the project also aims to establish short and long-term offshore wind targets, create strategies that integrate offshore wind power into the government’s renewable energy portfolio, and propose policy measures to attract investors.

Early estimates indicate that the Philippines “has over 170 gigawatts (GW) of offshore wind potential,” said Mark Leybourne, World Bank Offshore Wind Development Program Co-Lead.

The World Bank engaged with 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,” said Cusi.

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 awarded five wind energy service contracts to various entities pursuing projects with a combined potential capacity of five GW from offshore wind so far.

SOURCE: Business World