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BlueFloat Energy taps into the Philippines' offshore wind market

4C Offshore | Chloe Emanuel
By: Chloe Emanuel 02/06/2023 BlueFloat Energy

The Philippines 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. BlueFloat Energy has been working for more than 18 months on unlocking this offshore wind potential by exploring the development of floating wind.

BlueFloat Energy has announced today its market entry in the Philippines through the acquisition of the Wind Energy Service Contracts (WESCs) for four sites in the Philippines: Central Luzon, South Luzon, Northern Luzon, and Southern Mindoro.

Carlos Martin, CEO of BlueFloat Energy said: “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.”

Raymund Pascual, Country Manager of BlueFloat Energy in the Philippines, said: “We see and believe that our plan aligns well to enable the Transformative Agenda of the Philippine Development Plan 2023-2028 as it focuses on developing and protecting the capabilities of individuals and families, enables production sectors to generate more quality jobs and competitive products, and of course consequently, economic prosperity."

The Philippines, known for its abundant natural resources and favorable coastal conditions, is well positioned to harness the power of offshore wind. The country’s total technical potential for offshore wind is estimated at 178 GW in the World Bank’s offshore wind roadmap for the Philippines. Large areas around the country’s coast have technically extractable wind resources. BlueFloat Energy plans to leverage its floating wind expertise and global experience to develop projects along the Philippine coasts.

BlueFloat Energy will work closely with the local communities, government entities, and other stakeholders to ensure that its projects comply with environmental regulations, respect local cultures, and provide long term benefits for the communities in which it operates.

BlueFloat Energy’s entry into the Philippine market fits well within the company’s strategy for the Asia Pacific region, with project developments already underway in Australia (first feasibility license application submitted for Greater Gippsland area in April this year), New Zealand and Taiwan.

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