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Wednesday, May 25, 2011
St. Peter Thelmo Church Construction....Completed!!!
Ayala and NorthWind to Build New Wind Farms
(3/23/2011)
Ayala Corp., a new player in the renewable energy sector, will join NorthWind Power Development Corp. develop new projects in Aparri, Cagayan and Pamplona, Cagayan Valley with an estimated of 40 megawatts (MW) each.
NorthWind chairman Ferdinand Dumlao told reporters Wednesday the partnership with the Ayala Group will enable them to go ahead with the wind farms. “We are confident that we can embark on these new projects.”
Michigan Power Inc., Ayala’s wholly owned unit, last week bought 50 percent equity in NorthWind for P512 million, plus an additional payment depending on certain performance indicators.
“Like any developer, we are awaiting the approval of the feed-in tariff. The development of our expansion projects hinges upon approval of a viable feed-in tariff, which we hope that the petition will be filed on or before March 31 by the National Renewable Energy Board with the endorsement of the Energy Department,” Dumlao said.
NorthWind subsidiaries are developing the wind projects. NorthPoint Wind Power Corp. will develop the 40-MW wind farm along the shores of Barangay Dodan in Aparri, Cagayan. This project, consisting of 20 to 25 wind turbines, has a $95-million price tag and is envisioned to supply the power needs of electric cooperatives in the province.
The feed-in tariff refers to a mechanism of computing the cost of renewable energy and ensures that investors are paid for what they produce.
Another unit, NorthEast Wind Systems Corp., will build the wind farm in Pamplona, Cagayan Valley and sell its output to the Luzon grid.
Dumlao said the new projects face “certain constraints” — on top of the feed-in tariff — like the transmission facilities where the projects are located.
“For example, for Cagayan, if we have a financial closing by September, two years from now or by 2013, the transmission facilities should be in place,” he said.
So far, the National Grid Corporation of the Philippines, which operates the country’s power transmission highway, has not given a firm commitment to put up the transmission lines linking the projects to the corresponding grid.
“They should have a firm commitment because we have to deliver that power [to consumers]. And we need that for the banks,” Dumlao said.
NorthWind operates the 33-MW Bangui Bay wind project in Ilocos Norte, the largest wind farm in Southeast Asia.
The $50-million wind farm sells electricity to the Ilocos Norte Electric Cooperative, providing 40 percent of the power requirements of Ilocos Norte.
Ayala Corp., a new player in the renewable energy sector, will join NorthWind Power Development Corp. develop new projects in Aparri, Cagayan and Pamplona, Cagayan Valley with an estimated of 40 megawatts (MW) each.
NorthWind chairman Ferdinand Dumlao told reporters Wednesday the partnership with the Ayala Group will enable them to go ahead with the wind farms. “We are confident that we can embark on these new projects.”
Michigan Power Inc., Ayala’s wholly owned unit, last week bought 50 percent equity in NorthWind for P512 million, plus an additional payment depending on certain performance indicators.
“Like any developer, we are awaiting the approval of the feed-in tariff. The development of our expansion projects hinges upon approval of a viable feed-in tariff, which we hope that the petition will be filed on or before March 31 by the National Renewable Energy Board with the endorsement of the Energy Department,” Dumlao said.
NorthWind subsidiaries are developing the wind projects. NorthPoint Wind Power Corp. will develop the 40-MW wind farm along the shores of Barangay Dodan in Aparri, Cagayan. This project, consisting of 20 to 25 wind turbines, has a $95-million price tag and is envisioned to supply the power needs of electric cooperatives in the province.
The feed-in tariff refers to a mechanism of computing the cost of renewable energy and ensures that investors are paid for what they produce.
Another unit, NorthEast Wind Systems Corp., will build the wind farm in Pamplona, Cagayan Valley and sell its output to the Luzon grid.
Dumlao said the new projects face “certain constraints” — on top of the feed-in tariff — like the transmission facilities where the projects are located.
“For example, for Cagayan, if we have a financial closing by September, two years from now or by 2013, the transmission facilities should be in place,” he said.
So far, the National Grid Corporation of the Philippines, which operates the country’s power transmission highway, has not given a firm commitment to put up the transmission lines linking the projects to the corresponding grid.
“They should have a firm commitment because we have to deliver that power [to consumers]. And we need that for the banks,” Dumlao said.
NorthWind operates the 33-MW Bangui Bay wind project in Ilocos Norte, the largest wind farm in Southeast Asia.
The $50-million wind farm sells electricity to the Ilocos Norte Electric Cooperative, providing 40 percent of the power requirements of Ilocos Norte.
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