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Economy

20 Apr 2022

Offshore Wind Power Helps the Philippines Reduce Energy Imports

The Index Today

A World Bank study has found that relying on coastal wind power can aid the Philippines in cutting its energy imports as it would succeed in satisfying a fifth of the country’s electricity demand by 2040.

According to Bloomberg News, the Philippines’ overall wind energy generation capacity can amount to as much as 178 gigawatts even though 90% of it will be underwater at a depth of more than 50 meters which would call for more sophisticated and costly offshore turbines.

However, switching to wind energy will help the country to curtail its energy imports as well as its dependence on coal and gas which are responsible for over 70% of electricity generation at present.

Moreover, the study also found that by achieving the 2040 target, the Philippines could enhance economic growth by $14 billion and reduce 480 million tons of greenhouse gas emission, while also generating up to 205,000 jobs.

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