The Philippines has 21 GW of wind power potential by 2040, says World Bank

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MANILA, April 23 (Reuters): The Philippines has the potential to install 21 gigawatts of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, a study has found. published by the Ministry of Energy and the World Bank. reported.

Installing more wind power will help reduce the country’s dependence on fossil fuels, which in 2020 accounted for around 79% of its electricity generation mix, according to government data.

Renewables represented only 21% of the energy mix in 2020, compared to 34% in 2008, with solar, wind and biomass together accounting for just under 4%.

Coal accounted for almost 60% of the 2020 mix as many energy producers opted for projects using this fuel.

The government aims to increase the share of renewable energy to 35% by 2030 and 50% by 2040.

The push comes as the Philippines, which is vulnerable to weather disasters sometimes linked to climate change, has pledged to reduce its greenhouse gas emissions by 75% by 2030 under the Paris Agreement on climate change.

“The waters of the Philippines have conditions well suited for offshore wind,” said Ndiamé Diop, World Bank country director for Brunei, Malaysia, the Philippines and Thailand.

But there are challenges to establishing a large-scale wind industry in the Philippines, such as cost, transmission, logistics, financing and ownership issues, World Bank officials said.

Offshore wind is more expensive than other forms of renewable energy.

To reduce costs, transmission network upgrades will be needed to connect large-scale projects, they said, noting additional risks associated with securing investment in this area and limited foreign ownership in 40%. -Reuter

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