‘Wind projects will allow PHL to create more jobs’
BY LENIE LECTURA – FEBRUARY 17, 2022
from Business Mirror
In file photo: The Burgos wind farm of First Gen-owned Energy Development Corporation (EDC), the country’s largest renewable energy producer.
The Philippines is among the five developing countries cited by a global energy group that has yet to fully unlock its wind energy resource.
According to the Global Wind Energy Council (GWEC), Brazil, India, Mexico, Philippines and South Africa each faces particular challenges due to Covid-19.
GWEC said, “[the] Philippines could see more than $1.1 billion of gross value added to the economy, with more than 1,650 MW of wind installations completed under a more ambitious approach”.
Moreover, the country’s wind energy resource could support a 70-percent increase in jobs and remove an equivalent of 65 million metric tons of carbon emissions.
Based on GWEC’s report, if the countries pursue a green recovery strategy–where public policy shifts towards the clean energy transition to accelerate deployment of wind projects over the next five years—they would realize a range of socioeconomic benefits from long-term job creation to cleaner air and water conservation.
GWEC’s report, Capturing Green Recovery Opportunities from Wind Power in Developing Economies, highlights the vast and largely untapped socioeconomic and environmental opportunities, which could be unlocked by wind energy from 2022-2026.
The report also shows the importance of a clear vision and policy commitment to mobilize private investment in wind energy and provides tailored policy and regulatory recommendations for each country.
As finance ministers and central bank governors from the G-20 meet in Jakarta this week to discuss sustainable finance under Indonesia’s G-20 presidency, GWEC said its report should serve as a rallying call for emerging economies to collectively act on accelerating renewable energy to power growth.
GWEC Chief Executive Officer Ben Backwell noted that with the increase in coal price volatility and ongoing supply chain disruption in the Philippines, it is time for coal import-dependent countries to develop a self-sufficient power system, which relies on clean energy.
“As elections approach in the Philippines, GWEC and the wind industry look forward to supporting the current and next administrations in creating meaningful climate policies and renewable energy targets, and kickstarting a post-pandemic green recovery.”
Backwell said policy commitments, investment in the expansion of grid and transmission infrastructure, as well as simplifying the permitting schemes for renewable energy projects are the common recommendations across each country studied in its report.
He said addressing these barriers proactively, in coordination with the wind energy industry and other relevant stakeholders can support the accelerated deployment of wind energy and a green recovery in emerging economies.
“The time for action is now, and governments need to use forums such as the G20 to turn promises, targets and ambitions into decisive interventions that provide the foundations for local communities and the private sector to make the energy transition a reality,” he said.
