ADB okays assistance for OSW ports in the Philippines
By PowerLine | February 13, 2024
The Asian Development Bank (ADB) has approved financing of USD400,000 to develop offshore wind (OSW) ports in the Philippines.
The package will be sourced from the Climate Change Fund. Proceeds will be used for pre-feasibility studies for OSW ports or port facilities used to support the manufacturing, construction, and operation of an OSW power project. Additionally, this will also help in categorising the priority ports for OSW development which will support port upgrading cost, construction time, port scalability, social and environment safeguard impact, financial sustainability, proximity of OSW sites, and grid connection access. ADB will assist the government of the Philippines with a time-bound action plan for an OSW port development which will enable OSW build-out from 2028 onwards.
Source: PowerLine
.
.