The Philippines’ Department of Energy and the World Bank Group, with funding from the Energy Sector Management Assistance Program, are to launch the first-ever Philippines Offshore Wind Roadmap on 20 April.
The roadmap will lay out the potential and concrete next steps for developing a robust offshore wind industry in the Philippines.
The launch is expected to bring together stakeholders from across the public and private sector to discuss technical, economic, environmental, social, employment, and financing aspects of establishing the country’s offshore wind market.
The World Bank estimates that the Philippines has over 178GW of technical offshore wind potential.
Offshore wind could play an important role in increasing energy security and decarbonization efforts in the Philippines, which has a rapidly rising energy demand and goals to increase renewable energy shares to 50% in the energy mix by 2040.
Building up the country’s offshore wind market can also support the growth of many socioeconomic benefits including job creation, local economic growth, and low-cost sustainable energy.