Published : Saturday, July 30, 2011 00:00 Written by : r
THE Board of Investments has granted tax perks to an affiliate of a global wind farm developer for the construction of a wind-powered generator in Northern Luzon.
In a statement, the BOI said it approved the application of Northern Luzon UPC Asia Corp.’s 80-megawatt wind-powered generator in Pagudpud, Ilocos Norte.
NLUPC is a unit of UPC Renewables.
Wilfredo Peñaflor, NLUPC president said the project is expected to be the largest commercially financed wind farm facility in the Philippines.
“This project will pave the way for NLUPC’s other wind projects,” Peñaflor said.
Tonito Payumo, NLUPC vice president, said the fiscal incentives granted by the government, along with the feed-in-tariff would go a long way to making the project viable.
“As envisioned by the NLUPC, a 62-kilometer power line covering Barangays Caparispisan and Balaoi in Pagudpod would connect the wind farm to the National Grid Corporation of the Philippines substation in Laoag City,” Payumo said.
A connection agreement between the NLUPC and the NGCP was signed on January 21.
The NLUPC project is expected to reach financial closure upon confirmation of the FIT by the Energy Regulatory Board in October this year. The power plant is seen to start commercial operation in early 2013.
UPC Renewables has successfully developed over 1,200 MW of operating wind projects in Europe, China and the United States.
Besides wind energy, UPC Renewables has been successful in developing solar energy businesses in the US and Europe.
The firm, which gained a foothold in the Philippines in 2006, is developing over 450 MW of wind projects in the country, apart from the forthcoming 80-MW project in Pagudpud.
UPC became a dedicated renewable energy developer after entering the Italian wind power market in 1995 where it established the largest wind farm developer and operator in Italy. By 2004, it had captured 70 percent of the Italian market with 782 MW in operation.
NLUPC is a unit of UPC Renewables.
Wilfredo Peñaflor, NLUPC president said the project is expected to be the largest commercially financed wind farm facility in the Philippines.
“This project will pave the way for NLUPC’s other wind projects,” Peñaflor said.
Tonito Payumo, NLUPC vice president, said the fiscal incentives granted by the government, along with the feed-in-tariff would go a long way to making the project viable.
“As envisioned by the NLUPC, a 62-kilometer power line covering Barangays Caparispisan and Balaoi in Pagudpod would connect the wind farm to the National Grid Corporation of the Philippines substation in Laoag City,” Payumo said.
A connection agreement between the NLUPC and the NGCP was signed on January 21.
The NLUPC project is expected to reach financial closure upon confirmation of the FIT by the Energy Regulatory Board in October this year. The power plant is seen to start commercial operation in early 2013.
UPC Renewables has successfully developed over 1,200 MW of operating wind projects in Europe, China and the United States.
Besides wind energy, UPC Renewables has been successful in developing solar energy businesses in the US and Europe.
The firm, which gained a foothold in the Philippines in 2006, is developing over 450 MW of wind projects in the country, apart from the forthcoming 80-MW project in Pagudpud.
UPC became a dedicated renewable energy developer after entering the Italian wind power market in 1995 where it established the largest wind farm developer and operator in Italy. By 2004, it had captured 70 percent of the Italian market with 782 MW in operation.
Well, UPC became a dedicated renewable energy developer after entering the Italian wind power market in 1995 where it established the largest wind farm developer and operator in Italy.
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