Wind power developer Northwind Power Development Corp. jumpstarted the survey and data gathering for the intended construction of its planned wind power plant in Aparri, Cagayan province.
Ferdinand Dumlao, chairman of Northwind, said its subsidiary Northpoint Wind Power Corp. already set the ball rolling for the 40-megawatt wind farm project estimated to cost around US$ 95 million.
“We have set up Northpoint for the Cagayan project funded with fresh equity. Approvals from the Environment and Natural Resources and Energy Departments and the local government units are being processed,” he said.
Dumlao added the Aparri project in Cagayan is their forefront project this year.
“Still too many work to be done but we are progressing,” he said.
The project received support from Japanese, Danish and Spanish investors and creditors.
The company is also looking at signing the supply contracts with the electric cooperatives in Cagayan.
Recently, NorthWind completed the expansion of the 33-MW Bangui Bay wind project in Ilocos Norte, the largest wind farm in Southeast Asia costing US$ 50 million.
Bangui Bay sells its electricity to the Ilocos Norte Electric Cooperative and provides 40 percent of the power requirements of the province of Ilocos Norte.
Meantime, Dumlao said the passage of the Renewable Energy is expected to bring in more investors to the country specifically on wind projects.
“The provision in the RE bill that will allow investors to enjoy incentives will help promote wind energy development,” he said.
The government is projecting to harness some 200 MW to 400 MW from wind energy sources in the next 15 to 20 years.
Aside from wind, the Department of Energy is also promoting other renewable energy sources such as geothermal, solar and hydro. (PNA)