Phinma Energy to start running P4-billion wind farm by 2020

By Jonathan L. Mayuga - February 26, 2018

https://businessmirror.com.ph/phinma-energy-to-start-running-p4-billion-wind-farm-by-2020/

PHINMA Energy Corp., the proponent of the San Lorenzo Wind Farm (SLWF) in the island-province of Guimaras, will start operating 16 more wind turbines by 2020.

Phinma Energy Vice President for Renewable Energy (RE) Danilo L. Panes told the BusinessMirror that the company eyes 2019 when construction work on the second wind farm, capable of generating an additional 40 megawatts (MW) of electricity, would begin.

The new wind turbines to be constructed in Barangay Sebaste in Sibunag town will be taller than the 27 wind turbines comprising the SLWF, Panes said on the sidelines of ceremonies for the visit of Greenpeace sailing yacht Rainbow Warrior in Guimaras. Documents provided by Panes said the SLWF costs P6.5 billion.

For the new project, Phinma Energy will be setting aside P4 billion, he said.

We are looking at constructing taller and bigger wind turbines, with each having a power-generating capacity between 2.3 MW to 2.5 MW, he added.

Each of the 27 wind turbines currently scattered across the four barangays of San Lorenzo has a capacity of 2 MW.

According to Panes, the project is expected to boost Phinma Energy’s current power-generating capacity from 54 MW to 94 MW—roughly a quarter of the company’s 400-MW portfolio in the Philippines—in the next 10 years.

Aside from the Visayas, the company is eyeing to construct a solar farm in Northern Luzon.

Panes said there are now ongoing talks with local officials of Guimaras and Sibunag regarding the nitty-gritty of the project.

Phinma Energy is a company that started in oil and gas exploration 48 years ago. Originally, in the coal-fired power plant business, Phinma Energy started diversifying in 2005, seeing the huge potential of RE, particularly wind power and solar power.

“The profitability [of RE] is good. [It’s] just enough,” Panes said.

He explained the profitability of RE remains an issue because of lack of incentives from the government. He said 75 percent of equipment for RE is still imported.

The cost of RE is still high, Panes said, adding that an investment of $2.1 million is needed for every MW capacity from wind power.

There is a need to make the investment climate for RE friendlier and to encourage investment that will boost the power-generating capacity and share of renewables in the current energy mix, according to Panes.

This, he added, will also help reduce the cost of electricity generated through clean, renewable means.

The Provincial Government of Guimaras is in partnership with Greenpeace Southeast Asia-Philippines and the Climate Reality Project in pursuing RE and clean energy.

The group lauded the local government unit of Guimaras and the SLWF for deciding to go “100-percent coal-free.”

Guimaras Gov. Samuel T. Gumarin last Saturday has declared a policy banning coal and other dirty energy sources in the entire province as it vowed to make the province the RE capital of Western Visayas.