The roadmap aims to “identify areas with high potential for offshore wind development; establish short and long term offshore wind targets; formulate strategies for successfully integrating offshore wind into the government’s renewable energy (RE) portfolio; and make recommendations on the policies needed to foster a business environment conducive to offshore wind investors ”, according to A declaration.
He said the World Bank Group’s Energy Sector Management Assistance Program (ESMAP) will fund the roadmap.
DOE secretary Alfonso Cusi said the project “is another key milestone for the energy sector.” The WBG Offshore Wind Development Program estimated that the Philippines has at least 170 GW of offshore wind potential.
Infrastructure expert John Yeap of Pinsent Masons, the law firm behind Out-Law, said: “With Taiwan to the north and Vietnam to the west, the Philippines, especially the northern islands, should be fine. placed to join their neighbors in the search for exploitation. the potential of offshore wind. Unlike its neighbors however, the Philippines has a fully deregulated electricity market, which suggests that the commercialization of large offshore wind projects will depend on robust government policies, not only to ensure the technical and economic viability of the sector, but also to guarantee transparent responses in the electricity market. The study that was announced would hopefully establish a clear roadmap for the development of this sector and in turn provide the platform for investor confidence in the sector. “
The World Bank has selected UK-based BVG Associates (BVGA) to explore the technical, economic, environmental, social, employment and financing aspects of creating an offshore wind market in the Philippines.
The DOE has awarded five wind service contracts, including the Guimaras Strait (WPP) Wind Project, Aparri Bay WPP, Guimaras Strait II wind project, Frontera Bay WPP and San Miguel Bay WPP, which have a combined potential capacity of 5 gigawatts (GW ) wind at sea.
ESMAP is a partnership between the World Bank and 19 partners which aims to help low- and middle-income countries reduce poverty and accelerate growth through sustainable energy solutions.