The Philippines’ struggling economy is having a hard time recovering from the pandemic and inflation, not to mention the tremendous gas price hike around the world. The country seeks energy alternatives and launches offshore wind projects with the support of (USTDA) and foreign companies.
Feasibility Study on Philippine Offshore Wind Projects Launched
Aboitiz Power, Rocky Mountain Institute (RMI), and Clime Capital Management collaborate to launch a feasibility study on developing up to 3,000 megawatts of offshore wind capacity in the Philippines.
As of 2020, the country has a burgeoning portion of the energy system with an onshore wind having a capacity of 443 megawatts. Also, the United States Trade and Development Agency (USTDA) awarded the Philippines a grant for its offshore wind projects.
The feasibility study will integrate with the current research and will add to it an evaluation of the wind resource. Also, it includes the verification of contrary development projects, among others.
Aboitiz Power will lead the project for the consortium in the pre-feasibility assessment and wind data collection development. It aims to work out the offshore wind market and gather crucial data. Moreover, it systemises resources to map out the supply chain in case the offshore wind carries on with the development stage.
“It is our goal to contribute to our country’s energy transition journey by exploring more zero-emissions indigenous energy sources. 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,” said AboitizPower president and chief executive Emmanuel V Rubio.
Philippines to Increase Renewable Energy Utilisation
Although the country is responsible for only 0.3% of global emissions, it is willing to do its share of reducing its carbon print.
“Though we are a minor contributor to climate change globally, we have the unfortunate distinction of being one of the most vulnerable countries to the effects of climate change. The use of renewable energy is at the top of our climate agenda. We will increase our use of renewable energy sources such as hydropower, geothermal power, solar, and wind,” said President Ferdinand R. Marcos Jr. said during his first State of the Nation Address (SONA).
Meanwhile, the Department of Energy aims to generate wind energy with a capacity of 12,000 megawatts by 2040. A low-growth rundown holds the probability of 3,000 megawatts by 2040 and 6,000 megawatts by 2050.
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