This is in partnership with Clime Capital Management and Rocky Mountain Institute (RMI) with the support ofthe United States Trade and Development Agency.
“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,” AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said.
According to the Philippines’ Department of Energy (DoE), the Philippines currently has a capacity of 443MW, as of 2020. AboitizPower noted this means there is a significant potential for offshore wind power to expand in the country.
Citing a 2021 study by the World Bank and BVG Associates, the company also noted that wind power in the Philippines could grow 3,000MW by 2040 and by 6,000MW by 2050.
Meanwhile, the DoE plans to bring the country’s wind power generation capacity up to 12,000MW by 2040.
The project partially funded by the US government is set to begin on 11 August. It is expected to be completed by mid-2023.