Friday, 20 May 2011

P11-B wind-power project gets perks

Manila Bulletin
http://www.mb.com.ph/articles/319013/p11b-windpower-project-gets-perks

MANILA, Philippines — Filipino-Dutch joint venture Northern Luzon UPC was granted tax and fiscal incentives by the Board of Investments for its P11.214 billion wind energy project that will produce a total of 54 megawatt power.

There will be two wind power farms to be located in Pagudpud: One in Caparisisan with 54 MW and Baloi with 26 MW. These two projects are expected to start operation in December 2013.

Board of Investments (BoI) executive director Lucita Reyes said the project is 60 percent owned Filipino and 40 percent Dutch.

The Ilocos region has been a site of wind energy projects because its location near the ocean has been an ideal source for wind energy.

Other wind power projects in Ilocos Norte are Northwind Power, the first operational wind-power plant in Bagui and in Burgos, Pagudpud.

This activity is entitled to tax and fiscal incentives as this is listed in the 2010 Investment Priorities Plan under the mandatory listing which include the Renewable Energy Act of 2008.

Earlier, the BoI also approved the P6.453 billion project of Filipino-owned Trans-Asia Renewable Energy Corp. (TAREC) for its 54-MW wind power plant in San Lorenzo , Guimaras, the first wind energy project in Visayas.

Based on its application, TAREC will supply electricity to the Visayas Grid via the Ingore, Iloilo substation owned by the National Grid Corporation of the Philippines (NGCP) as stipulated in the Feed-in Tariff Rules starting at P10/kWh on the first year upon ERC approval.

As post registration condition the firm shall submit Certificate of Compliance (COC) authorizing them to operate as FIT (feed-in-tariff) eligible RE plants.

The project, which will employ a total of 75 personnel, start of commercial operations is in November 2013.

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