Business World Online
Posted on July 06, 2014 09:25:23 PM
PHILCARBON, Inc. said it is banking on more partnerships with local and foreign companies for its renewable energy projects.
The company made the statement over the weekend shortly after the announcement of a tie-up with Megawide Construction Corp. which would involve a $100 million worth of investment for various projects.
“In response to the government’s lead, PhilCarbon is focusing on the development of wind, geothermal and mini-hydro renewable energy sources and promoting energy efficiency,” the statement quoted PhilCarbon Chairman Rufino B. Bomasang as saying.
He added that the company’s strategy is to “partner with foreign and the local companies to achieve the optimum blend of local and international experience to ensure effective implementation of its projects.”
Meanwhile, PhilCarbon President Ruth Y. Owen said the company is keen on developing renewable energy projects amid the need to protect the environment and reduce the impact of power projects on climate change.
“PhilCarbon, as a renewable energy company, is committed to fulfill the government’s vision of energy independence under the Renewable Energy Act of 2008,” Ms. Owen said.
She added that the partnership with Megawide is expected to boost PhilCarbon’s competitiveness in renewable energy projects given the former’s “construction expertise and financial muscle.”
The two companies have agreed to jointly develop a portfolio of renewable energy projects ranging from biomass, wind, hydro, solar and geothermal with a combined capacity of 100 megawatts (MW).
PhilCarbon is planning to develop a 33.4-MW wind power project in Bulalacao, Oriental Mindoro in 2016. -- Claire-Ann Marie C. Feliciano source
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