PLC Corp Vietnam

Exploring exciting opportunities in the Philippines’ wind energy and storage markets with POOWESS 2023 – The 1nd Philippines Onshore Offshore Wind Energy Summit 2023

The Philippines is a Southeast Asian country with over 7,000 islands. This archipelago nation is blessed with a variety of geographic features that make it ideal for wind energy generation.

The Philippine government aims to reach a 35% share of renewables in their electricity mix by 2030 and 50% by 2040. It has set a target of 5 GW of installed onshore wind power capacity by 2030 and has a total technical offshore wind potential of 207 GW, about half of it based on good wind speeds above 8 m/s.

The policy and regulatory framework for offshore wind has been rapidly developing in recent years, with the removal of restrictions on foreign ownership of renewable energy projects and a new policy framework for offshore wind announced this June. More than 60 offshore wind projects have received an initial contract for site exclusivity. Sites are currently allocated through an open-door model and multiple international developers have entered the market during the last year.