The Board of Investments has granted fiscal incentives to the P14.4-billion, 86-megawatt wind energy project of Energy Development Corp. in Burgos town, Ilocos Norte.
BoI Executive director Lucita Reyes said EDC’s Burgos wind farm was one of the big-ticket renewable energy projects approved by the agency in the first two months of the year.
“This project is scheduled to start commercial operations in December this year and will employ 25 people,” Reyes said. She said EDC would supply the power output to the national grid.
“EDC said it was planning to launch other renewable energy projects in different parts of the country aside from this one. It has five more in its lineup,” she said, adding that the Burgos farm was EDC’s first wind energy project to be implemented.
She said EDC also registered in 2001 an energy project but the BoI canceled it when it did not take off.
Reyes earlier said the agency approved a number of renewable projects in the first two months of the year—all requiring automation and less workers to employ. Potential employment from approved projects fell 16 percent to 4,225 in the first two months of the year from 5,007 a year ago.
The BoI earlier granted incentives to the P5.192-billion bio-ethanol project of Canlaon Alcogreen Agro-industrial Corp. in Bago City, Negros Occidental.
Reyes said the Sugar Regulatory Agency endorsed the project after complying with requirements. Canlaon Alcogreen plans to produce 52.2 million liters a year and supply local petroleum companies. Commercial operation is set to start in December 2012.
The BoI approved P28.24 billion worth of investment pledges in the first two months of the year, up 185 percent from P9.917 billion year-on-year. “It showed us we are on the right track of surpassing the BoI investment target for 2011,” Reyes said.
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