Written by Madelaine B. Miraflor Published on 30 November 2012
PetroGreen Energy Corp., a wholly-owned subsidiary of listed PetroEnergy Resources Corp., has forged a deal with Aklan Electric Cooperative Inc. (Akelco) for the construction of the transmission line from PetroGreen’s 50-megawatt (MW) Nabas Wind Power Project.
Being developed by PetroGreen under the Department of Energy’s (DOE) Service Contract 2009-09-002, the project will be in Nabas, Aklan province where Akelco is the electricity distribution franchise holder.
In a statement, the company said that the agreement will eventually lead to a construction contract where PetroGreen engages Akelco to erect the single-circuit 69-kilovolt overhead interconnection line.
The signing of the deal followed the approval and release on August 2012 of the Nabas system impact study by the National Grid Corporation of the Philippines, stipulating the connection scheme for Nabas and PetroGreen’s filing for commerciality declaration of the project with the DOE on September 10.
Subject to the commerciality declaration and MW allocation for the project, PetroGreen intends to start initial development works in Nabas by 2013 with mid-2014 as target for commercial operations. source
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