Taguig City, Philippines – 13 December 2023 – Pilipinas Offshore Wind Energy Resource, Inc. (POWER), a Philippine-based offshore wind industry organization formed by developers, from global and local markets, was launched at a press event at the Philippine National Oil Corporation (PNOC) Executive Lounge at the Energy Center in BGC, Taguig. The association is formed to provide expertise and technical resource to accelerate the clean energy transition by leveraging on offshore wind power.
Touted as the newest alternative to deliver renewable energy, offshore wind is an energy and climate solution that can help solve the ongoing power crisis and drive economic growth and promote energy security. Offshore wind represents a unique opportunity to build a new clean energy industry and create a durable economic alternative to fossil fuel dependency.
Sharing the same vision to unlock the full potential of offshore wind technology, POWER is formed by the following energy companies – ACEN Corporation (ACEN), The Blue Circle (TBC), BlueFloat Energy (BlueFloat), Citicore Renewable Energy Corp. (Citicore), Ignis ZA Global (Ignis) and Marubeni Asian Power Philippines Corporation (Marubeni).
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 21GW in the high growth potential offshore wind power by 2040.
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.
With the support from offshore wind energy actors, POWER can accelerate offshore wind development over the next decade by providing technical assistance and advisory services to various government agencies; coalition-building and advocacy other stakeholders critical for a successful transition to renewable energy. These efforts will create favorable conditions to pave the way that will ensure offshore wind can thrive.
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About The Blue Circle
Founded in 2013, The Blue Circle identifies, develops, finances, owns and operates renewable energy projects in the Asia-Pacific region. The Blue Circle uses the most advanced technology to build responsible and sustainable projects. With offices in Singapore, Ho Chi Minh City, Bangkok, Phnom Penh and Manila, The Blue Circle is the leading renewable energy company of Southeast Asia. Its team is committed to changing the world one green electron at a time.
For further information, please contact:
The Blue Circle
Amaury Brucker
Tel: +63 915 182 7899
amaury.brucker@thebluecircle.sg