IDB Invest’s Post

"In 2010, the global weighted-average LCOE of onshore wind was 95% higher than the lowest fossil fuel-fired cost; in 2022, the global weighted-average LCOE of new onshore wind projects was 52% lower than the cheapest fossil fuel-fired solutions." New report by IRENA below https://lnkd.in/gKsrF_-w

ETIPWind calls for €1.8bn of public investment to boost the development of a resilient, competitive and sustainable European wind supply chain. ➡ 5 priorities: 📌 Accelerate the industrialisation and restore the competitiveness of the #supplychain 📌Optimise and further digitalise the Operations & Maintenance of the assets 📌Achieve a faster and wider wind energy system integration 📌Develop a sustainable and circular #windenergy supply chain 📌Attract a #skilledworkforce and ensure a happy coexistence with society

Offshore wind energy? We’re big fans... That’s why RMI is working with island nations like the Philippines to determine their offshore wind potential, including suitable locations, environmental and social impacts, and cost considerations. We also explore the political landscape and discuss the key stakeholders who are vital to a healthy offshore wind market. Learn more about both the progress made and barriers to navigate from our Southeast Asia Energy Program: https://bit.ly/3UkqtL7 #OffshoreWind #WindEnergy #RenewableEnergy #PhilippinesEnergy #Philippines #ClimateAction

Exciting News from #EcosperityWeek! Today, on the vibrant sidelines of Ecosperity Week in Singapore, RMI Southeast Asia Program and the newly established Catalytic Climate Capital initiative in collaboration with AboitizPower Renewables Inc and the Southeast Asia Clean Energy Facility announced a groundbreaking report on the high potential offshore wind development zones in the Philippines. This insightful report evaluates the current state of offshore-wind bankability and pinpoints key barriers hindering further progress. It's a pivotal step towards unlocking the immense potential of offshore wind energy in the Philippines. The report zeroes in on three promising offshore wind development zones near Manila Bay, Tayabas Bay, and Guimaras. These areas hold tremendous promise for sustainable energy generation and represent a significant opportunity for the region's energy landscape. By spotlighting crucial insights and recommendations, it paves the way for substantial advancements in the offshore wind sector, not only in the Philippines but throughout Southeast Asia. Special thanks to our funding partners, US trade and development agency and Tara Climate Foundation, for their invaluable support in making this project a reality. Dive into the full report here: https://lnkd.in/gRMRXSdR Justin Locke Nathaniel Buescher Paula Valencia

Island nations like the Philippines have enormous untapped potential for offshore wind energy. My team is working with local stakeholders to determine the best paths forward.  I’m excited to share our report "Philippine Market Movers: An analysis of three high potential areas to accelerate the offshore wind market in the Philippines", that provides a pre-feasibility analysis of three promising offshore wind development zones near Manila Bay, Tayabas Bay, and Guimaras. The report focuses on areas that are suitable for both the country’s first fixed-bottom wind turbines and the long-term floating offshore wind market that is expected to follow. Offshore wind is gaining attention as a means to enhance energy security, lower electricity costs, reduce greenhouse gas emissions, and create a backbone for economic growth for the Philippines. The Philippines is well-positioned to catalyze the offshore wind industry across Southeast Asia.   To learn more, you can access the report here: https://lnkd.in/g2n_cK3b #OffshoreWind #WindEnergy #RenewableEnergy #PhilippinesEnergy #Philippines #ClimateAction Paula Valencia Wini Rizkiningayu Justin Locke

An excellent read with realistic insights. Kudos. This RMI report, building upon the World Bank's offshore wind report of 2022, focuses on Manila Bay, Tayabas Bay, and Guimaras as priority development zones due to existing infrastructures. Achieving the 2035 target for offshore wind in these areas relies on infrastructure development, regulations, investment, and stakeholder collaboration. While feasible with commitment and strategic planning, challenges such as regulatory hurdles, political forces, financing constraints, and unforeseen obstacles must be further addressed. Overall, concerted efforts and support from government, private sector, and local communities are crucial for successful offshore wind project implementation, offering benefits like reduced reliance on fossil fuels and mitigating climate change which is an urgent issue that needs immediate attention.

🌬️ Unlocking the power of offshore wind: Building a resilient supply chain 🌊 With ambitious targets set for the next decade, the European offshore wind sector is poised to further harness the potential of wind energy at sea. 🔗 Read the full blog post where we delve into the industry’s goals, challenges, and strategies to create a robust supply network. As the demand for cleaner energy and sustainable practices intensifies, ensuring a resilient supply chain becomes more crucial than ever. ➡️ https://hubs.ly/Q02ydm9f0 #OffshoreWind #RenewableEnergy #Sustainability #SupplyChain #CleanEnergy

Dive into the latest insights on offshore wind markets in emerging jurisdictions with our brand new publication series, "Navigating New Horizons" 💡As the offshore wind industry continues to evolve, it's crucial to stay informed about the latest trends and opportunities in emerging markets. Our latest thought leadership report gives an overview of the offshore wind market regulation in six emerging jurisdictions: Australia, Brazil, Ireland, Japan, New Zealand and Norway. 📢Don't miss out! Click below to explore our publication series now: https://lnkd.in/eS9ZxB9D #OffshoreWind #RenewableEnergy #EmergingMarkets

As a truly global law firm with a leading energy transition practice, we can provide you with an overview of the offshore wind market regulation in six emerging jurisdictions: Australia, Brazil, Ireland, Japan, New Zealand and Norway. Important reading for anyone interested in latest offshore wind trends around the globe!

Dive into the latest insights on offshore wind markets in emerging jurisdictions (including Norway) with our brand new publication series, "Navigating New Horizons". Check out our link below 🌏👇🏼