Wind energy stakeholders are seeking support from financial institutions to raise at least $500 million (about P30 billion) for the development of ports needed to serve the country’s nascent offshore wind industry, according to a report by BusinessWorld
Ann Margret Francisco, Asia-Pacific director at the Global Wind Energy Council (GWEC), which represents wind energy developers, manufacturers, suppliers, and other industry stakeholders, emphasized the critical need for port infrastructure to accommodate the installation and maintenance of offshore wind turbines.
The funding would be used to upgrade existing ports or build new ones capable of handling large components such as turbine blades and towers. The Philippines has significant offshore wind potential, but lacks the necessary port facilities to support the industry's growth.