By Alena Mae S. Flores Posted on October 01, 2012 12:01am
Electricity Generating Public Company Ltd. of Thailand plans to form a joint venture with Philippine Hybrid Energy Systems Inc. to put up a 48-megawatt wind power project in Mindoro.
Frank Thiel, managing director of Quezon Power Philippines Ltd., which is controlled by Egco, confirmed talks were ongoing with Philippine Hybrid, but said the two parties had not yet made any commitment.
“We’re excited for the opportunity because we believe this project has good potential. We’re hoping to make something happen before too long,” Thiel said.
Quezon Power owns a 460-MW coal plant in Mauban, Quezon.
Thiel said he could not disclose the equity sharing for the wind project due to confidentiality issues. “We can’t disclose the amounts because we have confidentiality agreement with PHESI, the company leading the development. We’re conducting due diligence. We’re hoping that we can make something happen very quickly,” he said.
Oriental Mindoro Rep. Rodolfo Valencia earlier said Mindoro would need additional power supply as it prepared for a strong economic growth.
“Mindoro will become conducive for expanding business in tourism, manufacturing, and other industries, thereby improving the economy of the island,” he said. source
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