Business World Online
Posted on March 23, 2011 11:11:59 PM
TWO MORE wind farms will be operating in the country by 2015 with Ayala Corp. now backing the pioneering firm behind the first turbine site in Ilocos Norte, a ranking official yesterday said.
Two more wind farms will reportedly rise by 2015 to join this project on Bangui Bay in Ilocos Norte after Ayala Corp. acquired a 50% stake in NorthWind Power Development Corp.
The planned 40-megawatt (MW) Aparri wind farm should start generating and selling power by 2013 while another 40-MW farm planned for Pamplona in Cagayan Valley should be ready by 2015, NorthWind Power Development Corp. Chairman Ferdinand A. Dumlao told reporters in a telephone interview.
This comes after Ayala, the country’s oldest conglomerate, announced last week that it had purchased a 50% stake in NorthWind as part of plans to diversify into the power business.
The acquisition, accomplished via Ayala unit Michigan Power, Inc. cost roughly P512 million, according to earlier reports.
“We are confident that we can embark on these new projects,” Mr. Dumlao said.
Ayala, through its subsidiary, will have a 50% interest in each of the windfarms, Mr. Dumlao added.
Officials from the conglomerate could not be immediately reached for comment.
NorthWind’s subsidiary Northpoint Wind Power Corp. will be developing the Aparri wind farm.
It is expected to cost around $95 million and will consist of about 20 to 25 wind turbines.
The Pamplona wind farm will be constructed by another subsidiary NorthEast Wind Systems Corp. The project with unspecified costs will have 16 wind turbines with a capacity of 1.65 MW each.
“But like any developer, we are awaiting the approval of the feed-in tariff,” Mr. Dumlao said, referring the guaranteed payment given to renewable energy investors through a universal charge.
The Energy Regulatory Commission has yet to issue the tariffs.
Transmission facilities will need to be put in place as well, Mr. Dumlao said.
“For example in Cagayan, if we have a financial closing by September, two years from now the transmission facilities should be in place because we have to deliver power to consumers,” he said.
The two projects will come on top of NorthWind’s 33-megawatt Bangui turbine farm in Ilocos Norte.
The Bangui Bay wind farm is considered the largest wind farm in Southeast Asia and is estimated to cost around $50 million. It sells electricity to the Ilocos Norte Electric Cooperative and provides 40% of the power requirements of the province.
Ayala, for its part, had said it plans to build a portfolio of over 1,000 megawatts comprised of both renewable and traditional energy projects.
Last November, Ayala infused P112.5 million into Michigan Power, which had entered into a joint venture with Diamond Generating Asia, Ltd., a subsidiary of Mitsubishi. The partners formed solar power firm PhilNewEnergy, Inc.
Shares in Ayala closed at P357.40, down 0.45% from its previous close of P359 a piece. -- ENJD
This comes after Ayala, the country’s oldest conglomerate, announced last week that it had purchased a 50% stake in NorthWind as part of plans to diversify into the power business.
The acquisition, accomplished via Ayala unit Michigan Power, Inc. cost roughly P512 million, according to earlier reports.
“We are confident that we can embark on these new projects,” Mr. Dumlao said.
Ayala, through its subsidiary, will have a 50% interest in each of the windfarms, Mr. Dumlao added.
Officials from the conglomerate could not be immediately reached for comment.
NorthWind’s subsidiary Northpoint Wind Power Corp. will be developing the Aparri wind farm.
It is expected to cost around $95 million and will consist of about 20 to 25 wind turbines.
The Pamplona wind farm will be constructed by another subsidiary NorthEast Wind Systems Corp. The project with unspecified costs will have 16 wind turbines with a capacity of 1.65 MW each.
“But like any developer, we are awaiting the approval of the feed-in tariff,” Mr. Dumlao said, referring the guaranteed payment given to renewable energy investors through a universal charge.
The Energy Regulatory Commission has yet to issue the tariffs.
Transmission facilities will need to be put in place as well, Mr. Dumlao said.
“For example in Cagayan, if we have a financial closing by September, two years from now the transmission facilities should be in place because we have to deliver power to consumers,” he said.
The two projects will come on top of NorthWind’s 33-megawatt Bangui turbine farm in Ilocos Norte.
The Bangui Bay wind farm is considered the largest wind farm in Southeast Asia and is estimated to cost around $50 million. It sells electricity to the Ilocos Norte Electric Cooperative and provides 40% of the power requirements of the province.
Ayala, for its part, had said it plans to build a portfolio of over 1,000 megawatts comprised of both renewable and traditional energy projects.
Last November, Ayala infused P112.5 million into Michigan Power, which had entered into a joint venture with Diamond Generating Asia, Ltd., a subsidiary of Mitsubishi. The partners formed solar power firm PhilNewEnergy, Inc.
Shares in Ayala closed at P357.40, down 0.45% from its previous close of P359 a piece. -- ENJD
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