The Philippines has immense offshore wind potential, with the World Bank estimating over 178 GW of technical offshore wind potential in the country. With a rapidly rising energy demand and goals to increase renewable energy shares to 50% in the country’s energy mix by 2040, offshore wind can play an important role in increasing energy security and decarbonisation efforts in the Philippines. Building up the country’s offshore wind market can also support the growth of many socioeconomic benefits including job creation, local economic growth, and low-cost sustainable energy.
The Roadmap shows two scenarios for offshore wind development in the Philippines, a low growth and a high growth scenario. Both scenarios look at in depth the technical, economic, environmental, social, employment, and financing aspects of establishing the country’s offshore wind market.
This Roadmap is one of a series of offshore wind roadmap studies commissioned by the WBG under the joint ESMAP-IFC Offshore Wind Development Program.