Published May 20, 2017, 10:01 PM By Myrna M.
Velasco
The wind project development arm of
publicly listed PetroEnergy Resources Corporation has taken in Thai firm BCPG
Public Company Ltd. (BCPG) as its new partner in the 36-megawatt Nabas-1 wind
project in Aklan.
The Thai partner acquired the
40-percent shareholdings of CapAsia Asean Wind Holdings Cooperatief U.A.
(CapAsia) in the wind venture in the Visayas grid, which is under corporate
vehicle PetroWind Energy, Inc.
In the re-alignment of
shareholdings, PetroEnergy retained its 40-percent equity in the project; while
EEI Power Corporation remained the minority shareholder with 20-percent stake.
The new Thai firm-partner has
engagements both in oil refining business and development of renewable energy
ventures – not just in Thailand but also in Japan. The company’s parent
firm is Bangchak Corporation.
PetroEnergy president Milagros V.
Reyes is pinning hope on the BCPG’s track record and management expertise as
something that “will bring greater value to our business.”
BCPG senior vice president Charnvit
Trangadisaikul, had in turn, asserted that “this investment marks our first
presence in the Philippines,” while noting optimism that the tie-up deal “would
open a lot of growth opportunities for all partners – both here and in the
region.”
He thus stressed that “we are
looking forward to expand our investment in RE in the Philippines, and promote
sustainability for the country.”
The Nabas wind farm project is among
the ventures granted with feed-in-tariff (FIT) incentive in the second wave of
subsidy award undertaken by the Department of Energy – with corresponding
approval and confirmation by the Energy Regulatory Commission.
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