The Philippines has the potential to install 21GW of offshore wind projects by 2040.
Bluefloat plans to install floating offshore wind farms in the Philippines. Credit:
Spanish offshore wind developer BlueFloat Energy will build a 7.6GW portfolio of offshore wind projects in the Philippines.
The portfolio will be divided across four sites: Central Luzon, South Luzon, Northern Luzon and Southern Mindoro.
The company has secured wind energy service contracts for the sites, each of which has a capacity between 1.5GW and 3.5GW.
The Philippines Department of Energy and the World Bank Group released a road map for the development of offshore wind in the country in April 2023.
This highlighted the potential to install 21GW of offshore wind power by 2040, while the total technical potential for offshore wind stands at 178GW.
The company has been exploring the development of floating wind to tap this potential. It aims to leverage its expertise in the floating wind sector and its global experience to develop projects along the country’s coasts.
BlueFloat Energy CEO Carlos Martin stated: “We are thrilled to bring BlueFloat Energy’s expertise and experience in offshore wind energy to the Philippines.
“We believe that by tapping into the country’s vast clean energy potential, we can make a significant contribution towards reducing carbon emissions and fostering a sustainable future for generations to come.”
The company will work closely with government entities, local communities and other stakeholders to comply with environmental regulations.
Entry into the Philippine market is part of the company’s strategy for the Asia-Pacific region.
BlueFloat Energy intends to develop projects with 6.6GW of capacity each in Australia and Taiwan, and a 1.9GW project in New Zealand.
It also announced plans in February 2023 to develop Eastern Rise, a 1.7GW floating offshore wind facility in Australia.