Business Sense: The race to build the Philippines’ first offshore wind farm

MANILA, Philippines – The Philippines is actively pursuing plans to attract renewable energy companies, with a particular focus on developing its offshore wind potential.

The Marcos administration has allowed foreigners to fully own renewable energy companies, making the country more enticing for investors.

In 2022, the Philippine Department of Energy, in collaboration with the World Bank, launched the Offshore Wind Roadmap, which outlined the potential for offshore wind development and identified over 178 gigawatts of technical potential for offshore wind energy.

In this episode of Business Sense, BlueFloat Energy chief executive officer Carlos Martin talks about the company’s planned investments in the Philippines.

Martin also discusses the various obstacles, as well as opportunities, in building offshore wind projects. – Rappler.com