The Department of Energy (DOE) is eyeing capital flow of roughly $30 billion for the targeted 40,000 megawatts of offshore wind farm projects to be installed in the country until mid-century.
The Department of Energy is eyeing capital flow of roughly $30 billion for the targeted 40,000 megawatts of offshore wind farm projects to be installed in the country until mid-century.
“We are pleased to have received numerous interests and applications in offshore wind from the private sector,” Fuentebella stressed. In the energy department’s estimate, the targeted investments in the offshore wind segment of the power sector could also generate 205,000 in full-time employment until 2040, which the energy official asserted would be “bringing sustainable and meaningful employment to thousands in the Philippines.”
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