by Myrna Velasco September
11, 2016
San Lorenzo, Guimaras —
The wind power capacity of Phinma Energy Corporation will be expanded by
additional 40 megawatts via its planned Sibunag wind farm project.
According to Trans-Asia
Renewable Energy Corporation (TAREC) Vice President Danilo L. Panes, this next
batch of investment will entail project funding of roughly $120 million or an
equivalent inching close to R6.0 billion. The rule of thumb is that investment
for wind plant is pegged at $3.0 million per megawatt (MW).
Effectively, the next
TAREC project will beef up the growing wind portfolio of Phinma Energy to 94MW
– with the initial 54MW already on stream via its San Lorenzo wind power
facility. The Sibunag site is 15 kilometers away from its existing wind farm.
Panes said they are
still awaiting the prescription of the Department of Energy (DOE) on the next
wave of wind installations and also on the fate of the propounded third round
of incentives – either through feed-in-tariff (FIT) or other mechanisms.
The TAREC official
noted that the upcoming wind farm project may require 20 wind turbine
generators at a capacity of 2.0MW each – similar to the installations the
company had at San Lorenzo.
The company’s
succeeding step will be on securing environmental compliance certificate (ECC)
so they can strategically position the project when the government decides anew
on installation race.
“For the expansion, we
will still use turbines from Europe,” the TAREC executive added. Their existing
wind plant is equipped with generating turbines supplied by Spanish firm
Gamesa, a major wind turbine manufacturer in Europe. Gamesa’s business
strength is seen further reinforced with its merger with German firm Siemens
that had been announced just recently.
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