Spanish floating wind developer BlueFloat Energy has entered the Philippines through the acquisition of wind energy service contracts (WESCs) for four sites in the country with a total capacity of around 7.6 GW.
BlueFloat has over 30 GW of planned bottom-fixed and floating projects in ten countries. The company said its entry into the Philippine market fits well within its strategy for the Asia Pacific region, with project developments already underway in Australia, New Zealand and Taiwan.
The Philippine offshore wind roadmap released in April 2022 by the Department of Energy and the World Bank Group, estimated that the Philippines has the potential to install 21 GW of offshore wind power by 2040. The country’s technical potential for offshore wind is estimated at 178 GW in the World Bank’s offshore wind roadmap for the Philippines.
Carlos Martin, CEO of BlueFloat Energy, said during his visit to the country announcing the company´s market entry into the Philippines: “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.”
