The Spanish offshore wind developer BlueFloat Energy has entered the Philippine wind market through the acquisition of the Wind Energy Service Contracts (WESCs) for four sites in the Philippines, in Central Luzon, South Luzon, Northern Luzon, and Southern Mindoro, each of which has a potential wind capacity of between 1.5 GW and 3.5 GW. In total, BlueFloat energy plans to develop a portfolio of offshore wind in the Philippines totalling 7.6 GW.
The Philippines’ offshore wind roadmap, released in April 2022, estimates that the Philippines has the potential to install 21 GW of offshore wind power by 2040. The country’s total technical potential for offshore wind is estimated at 178 GW.
The Philippines aims to bring the share or renewables in the power generation mix to 35% by 2030 and 50% by 2040. Renewables represent 21% of the Philippine’s mix (2021), of which 10% from geothermal, 9% from hydro, and 1% each from wind, solar and biomass. The country does not yet possess any offshore wind capacity (443 MW of onshore capacity in 2021).
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