“While floating offshore wind is still being developed all over the world the rule of thumb is about $5 million per megawatt, but this is only for floating wind turbine. It will be a little cheaper for the ones that are not floating,” Undersecretary Alessandro O. Sales said in a briefing on Thursday.
Energy Secretary Raphael P.M. Lotilla said the department is currently reviewing its offshore wind policies in preparation for issuing future service contracts. To date, the DoE has awarded 42 OSW service contracts with 31,500 MW of installed capacity which will be located in Northern Luzon, the Verde Island Passage, Northern Mindoro, and Southern Mindoro.
“A robust OSW requires a long-term vision, support infrastructure development, investment, and sound policy. Therefore, it is deemed critical to have a well-thought-out regulatory framework to enable successful growth of this newer technology,” Mr. Lotilla said.
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