Unlocking the Wind: Three Offshore Wind Zones to Power the Philippines

RMI’s latest report provides a pre-feasibility analysis of three high-potential offshore wind development zones in the Philippines.

Singapore, April 17, 2024 – Today, RMI (founded as Rocky Mountain Institute), in partnership with the Southeast Asia Clean Energy Facility (SEACEF), with funding from the United States Trade and Development Agency (USTDA) and Tara Climate Foundation, released a new report, Philippine Market Movers: An analysis of three high potential areas to accelerate the offshore wind market in the Philippines, that assesses the progress made in offshore wind bankability and identifies key barriers for further advancement in the sector.

The study identifies catalysts for broader market movements, highlighting offshore wind to improve energy security, lower electricity costs, reduce greenhouse gas emissions, and promote economic growth, not only in the Philippines, but across Southeast Asia. The report specifically identifies three high-potential offshore wind development zones located near Manila Bay, Tayabas Bay, and Guimaras.

As a sprawling island nation with a growing population and soaring demand for clean power, the Philippines has the potential to lead the race to develop offshore wind in Southeast Asia — and set a standard for the rest of the region.

“To keep pace with economic growth and energy security, Southeast Asian countries need to rapidly develop renewable energy, of which wind power has huge room for development. This report explores potential offshore wind power areas for development in the Philippines and identifies specific challenges potentially preventing market readiness for large-scale offshore wind projects,” said Wini Rizkiningayu, regional director, RMI Southeast Asia Energy Program.

For media inquiries, please contact:

Vindhya Tripathi, Senior Director International Communications RMI, M: +91 9810537978 E: vtripathi@rmi.org

About RMI

Rocky Mountain Institute (RMI) is an independent, nonpartisan nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to secure a prosperous, resilient, clean energy future for all. In collaboration with businesses, policymakers, funders, communities, and other partners, RMI drives investment to scale clean energy solutions, reduce energy waste, and boost access to affordable clean energy in ways that enhance security, strengthen the economy, and improve people’s livelihoods. RMI is active in over 60 countries. Find more information at www.rmi.org and follow us on LinkedIn @RMI.

About the Project

RMI, in partnership with Aboitiz Renewables and the Southeast Asia Clean Energy Facility (SEACEF), and funded by the United States Trade and Development Agency (USTDA) and Tara Climate Foundation, released Philippine Market Movers in support of the Philippine government’s push for renewable energy development in the country.