MANILA, Philippines—Local firm Sunwest Water And Electric Co. Inc. (Suweco) plans to invest in seven wind power projects, diversifying further its renewable energy generation portfolio, according to the Department of Energy.
Documents from the DOE showed that Suweco’s proposed wind-power projects were expected to generate a combined additional capacity of 52 megawatts.
The seven projects were likely to be put up on Cagraray Island, Bacacay (5 MW) and Legazpi City (10 MW), both in Albay; Donsol (5 MW) and Prieto Diaz (10 MW), both in Sorsogon; Puerto Princesa, Palawan (10 MW); Pandan, Antique (10 MW); and Tablas Island, Romblon (2 MW).
Suweco did not indicate how much it planned to invest in the planned ventures as it was still awaiting government approvals on its applications for renewable energy service contracts. It was in February last year that the DOE last awarded contracts to prospective investors.
A project proponent is expected to invest at least $2.5 million to produce a megawatt of wind power. This means that total investments for the seven projects, should these push through, may likely reach at least $130 million, or roughly P5.85 billion.
Aside from its wind-power projects, Suweco earlier said it was also spending P3.96 billion or $88 million for the pre-development of its 14 proposed hydropower projects.
According to the DOE, the initial amount would be used to develop the projects, which were expected to generate 44 MW in additional capacity. The projects were granted renewable energy pre-development service contracts in February last year.
Under a renewable energy service contract, a company will initially be given two years under the pre-development stage, which involves the preliminary assessment and feasibility study up to financial closing of the renewable energy project.
DOE documents showed that Suweco has two hydropower projects in Antique (Barbaza and Culasi) with a combined capacity of 5.1 MW. It also has one planned project in San Miguel, Catanduanes, with an estimated capacity of 2.4 MW; three in Malinao, Albay (0.7 MW); four in Libacao, Aklan (22.8 MW); one in Dingalan, Aurora (1 MW); and three in Gattaran and Peñablanca, Cagayan (12 MW).
Documents from the DOE showed that Suweco’s proposed wind-power projects were expected to generate a combined additional capacity of 52 megawatts.
The seven projects were likely to be put up on Cagraray Island, Bacacay (5 MW) and Legazpi City (10 MW), both in Albay; Donsol (5 MW) and Prieto Diaz (10 MW), both in Sorsogon; Puerto Princesa, Palawan (10 MW); Pandan, Antique (10 MW); and Tablas Island, Romblon (2 MW).
Suweco did not indicate how much it planned to invest in the planned ventures as it was still awaiting government approvals on its applications for renewable energy service contracts. It was in February last year that the DOE last awarded contracts to prospective investors.
A project proponent is expected to invest at least $2.5 million to produce a megawatt of wind power. This means that total investments for the seven projects, should these push through, may likely reach at least $130 million, or roughly P5.85 billion.
Aside from its wind-power projects, Suweco earlier said it was also spending P3.96 billion or $88 million for the pre-development of its 14 proposed hydropower projects.
According to the DOE, the initial amount would be used to develop the projects, which were expected to generate 44 MW in additional capacity. The projects were granted renewable energy pre-development service contracts in February last year.
Under a renewable energy service contract, a company will initially be given two years under the pre-development stage, which involves the preliminary assessment and feasibility study up to financial closing of the renewable energy project.
DOE documents showed that Suweco has two hydropower projects in Antique (Barbaza and Culasi) with a combined capacity of 5.1 MW. It also has one planned project in San Miguel, Catanduanes, with an estimated capacity of 2.4 MW; three in Malinao, Albay (0.7 MW); four in Libacao, Aklan (22.8 MW); one in Dingalan, Aurora (1 MW); and three in Gattaran and Peñablanca, Cagayan (12 MW).
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