In a joint press conference with US Secretary of State Antony Blinken and Philippines´ Foreign Affairs Secretary Enrique Manalo, the two parties agreed to further enhance opportunities to collaborate on marine resource management and clean energy, particularly nuclear. The initiatives will be conducted bilaterally and within the context of the United States-led Indo-Pacific Economic Framework where the Philippines is a country partner.
The US Department of State Bureau of Energy Resources (ENR) Clean Energy Demand Initiative and the Philippiens government had signed a Letter of Intent to adopt policy principles with 12 companies who are interested in investing up to USD 2.1 billion in the country’s clean power infrastructure. ENR is also working with the Philippines in developing its geothermal resources through the Geothermal Development Initiative.
Further, the United States Trade and Development Agency (USTDA) awarded a grant to the Philippines’ Aboitiz Renewables, a subsidiary of Aboitiz Power Corporation, for a feasibility study to develop up to 3 GW of offshore wind projects in the Philippines. The study will help Aboitiz identify potential project sites and provide technical economic analysis to deploy up to 3 GW of offshore wind projects that could power more than two million homes in the Philippines and meet growing energy demand, USTDA said.
According to the roadmap’s high growth scenario, the Philippines has the potential to install as much as 21 GW of offshore wind capacity by 2040 with the right governmental and policy support.
The feasibility study will be done in collaboration with Rocky Mountain Institute and Singapore-based Clime Capital Management.
(Source: Manila Times, offshoreWIND.biz)