A consortium including Aboitiz Power Corporation, Clime Capital Management and Rocky Mountain Institute (RMI) has launched a feasibility study on the development of up to 3000MW of offshore wind capacity in the Philippines.
The project also has been awarded a grant by the United States Trade and Development Agency (USTDA).
Currently, wind power makes up a small but growing proportion of the energy system in the Philippines, with onshore wind installed capacity at 443MW as of 2020.
There is significant potential to expand the generation of wind power, Aboitiz said, especially offshore where wind farms generate more power because of higher wind speeds.
In addition, a 2021 study by the World Bank and BVG Associates, in coordination with DOE, identified opportunities for wind power development in the Philippines.
A low growth scenario projects the potential of 3000MW by 2040 and 6000MW by 2050.
In the Philippine Energy Plan, DOE projects total wind power generation capacity to reach 12000MW by 2040.
The feasibility study by AboitizPower, Clime Capital, and RMI aims to complement the existing research, adding to it an assessment of the wind resource and identification of competing development projects, among others.
AboitizPower will be the project lead for the consortium in the pre-feasibility assessment and wind data collection phase.
Its goal is to unlock the offshore wind market, marshal resources to prepare the supply chain in case offshore wind proceeds with the development stage, and capture necessary data.
“It is our goal to contribute to our country’s energy transition journey by exploring more zero-emissions indigenous energy sources”, AboitizPower president and chief executive Emmanuel V Rubio said.
“This offshore wind feasibility study is a step in the right direction as we further diversify our extensive renewable energy portfolio to achieve our goal.”