All About Renewables: Offshore Wind Projects Are This Country’s Priority

The president of the Philippines has issued an executive order to accelerate offshore wind projects so that the country can reach its efficient and green objective of having 50% renewable energy sources in the electricity grid by 2040.

Through the “Executive Order on the Development of Offshore Wind Projects in the Philippines,” the country is seeing momentum in the wind energy space and wants to pick it up; the country is looking for partnerships to harness the initial 22 gigawatts (GW) total wind energy resource allocation that can be farmed along the Philippine archipelago.

International private companies such as BlueFloat Energy, Copenhagen Infrastructure Partners, Corio, Iberdrola, GigaWind, SeaWind, Shell, and WindKraft are interested in entering the Philippine market as the emphasis is on collaboration between government agencies and the private sector. The Philippines has an estimated 178 GW of offshore wind resources, and the country is looking into producing alternative fuels like green hydrogen to widen its energy landscape. Currently, renewable energy sources account for 22% of the country’s electricity supply, aiming to reach 35% of renewables in the energy generation mix by 2030 and 50% by 2040.