Tuesday, September 13, 2016

Phinma Energy expands wind capacity by additional 40MW



by Myrna Velasco September 11, 2016

San Lorenzo, Guimaras — The wind power capacity of Phinma Energy Corporation will be expanded by additional 40 megawatts via its planned Sibunag wind farm project.
According to Trans-Asia Renewable Energy Corporation (TAREC) Vice President Danilo L. Panes, this next batch of investment will entail project funding of roughly $120 million or an equivalent inching close to R6.0 billion. The rule of thumb is that investment for wind plant is pegged at $3.0 million per megawatt (MW).
Effectively, the next TAREC project will beef up the growing wind portfolio of Phinma Energy to 94MW – with the initial 54MW already on stream via its San Lorenzo wind power facility. The Sibunag site is 15 kilometers away from its existing wind farm.
Panes said they are still awaiting the prescription of the Department of Energy (DOE) on the next wave of wind installations and also on the fate of the propounded third round of incentives – either through feed-in-tariff (FIT) or other mechanisms.
The TAREC official noted that the upcoming wind farm project may require 20 wind turbine generators at a capacity of 2.0MW each – similar to the installations the company had at San Lorenzo.
The company’s succeeding step will be on securing environmental compliance certificate (ECC) so they can strategically position the project when the government decides anew on installation race.
“For the expansion, we will still use turbines from Europe,” the TAREC executive added. Their existing wind plant is equipped with generating turbines supplied by Spanish firm Gamesa,   a major wind turbine manufacturer in Europe. Gamesa’s business strength is seen further reinforced with its merger with German firm Siemens that had been announced just recently.

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