Offshore wind energy is projected to add between 72 billion and 122 billion pesos to the Philippine economy every year through 2062, according to the authors of the newly released report. This annual contribution represents approximately 0.3% of the nation’s total economic output, with the exact amount depending on how much of the equipment and services are sourced from local companies.
“Across the modelled lifetimes (2027-2062), the two projects together generate an average annual GDP contribution of ≈ PHP 72-77 billion, equivalent to roughly 0.27-0.29% of 2024 Philippine GDP.” The report further notes that under a high-growth scenario, the projects “are projected to generate an average of 75 to 122 billion pesos in additional GDP annually and create 225,887 to 244,448 full-time equivalent (FTE) jobs.”
In simple terms, these findings mean that wind farms built at sea could become a major engine for the country’s growth. The economic benefit is not just from building the turbines themselves, but from a “ripple effect” where workers spend their salaries on everyday needs like food, shopping, and travel. To reach the highest financial gains, the country needs to focus on building a local industry to produce components, ensuring that more of the investment stays within the Philippines rather than going to foreign suppliers.
Released in March 2026 by the Global Wind Energy Council, the report “Offshore Wind for Coastal Development: Socio-Economic Impact Study” explores the economic potential of wind energy in the Philippines. It was prepared by a joint team of experts from GWEC and the consultancy NIRAS, led by Ann Margret Francisco and Juan Miguel Consolacion.
