Bulalacao Offshore Wind Farm, Philippines

Bulalacao Offshore Wind Farm is a 1,200MW offshore wind power project. It is planned in Bulalacao Bay, Mimaropa, Philippines. The project is currently in announced stage. It will be developed in single phase. The project construction is likely to commence in 2024 and is expected to enter into commercial operation in 2028.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.

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Project Type	Total Capacity (MW)	Active Capacity (MW)	Pipeline Capacity (MW)	Project Status	Project Location	Project Developer
Offshore	1,200	–	1,200	Announced	Mimaropa, Philippines	Cleantech Global Renewables; The Blue Circle

Description

The project is being developed by Cleantech Global Renewables and The Blue Circle. These companies also have ownership stakes in the project.

The wind power project consists of 100 turbines, each with 12MW nameplate capacity.

Development Status

The project construction is expected to commence from 2024. Subsequent to that it will enter into commercial operation by 2028.

About Cleantech Global Renewables

Cleantech Global Renewables Inc is dedicated to altering the country’s energy production and supply by offering clean and inexpensive energy to ensure environmental preservation. The company is headquartered in Muntinlupa, Philippines.

About The Blue Circle

The Blue Circle Pte Ltd (The Blue Circle) is a Singapore-based company that finds, develops, finances, owns, and operates renewable energy projects. The company is headquartered in Singapore City, Singapore.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.