Manila Standard Today
Northern Luzon UPC Asia Corp., a unit of Ayala Corp., is set to start construction of the 81-megawatt Caparispisan wind power project in Pagudpud, Illocos Norte, with the groundbreaking ceremonies set this week.
Mario Marasigan, Energy Department director of the Renewable Energy Management Bureau, told reporters the $220-million wind project would support government‚Äôs efforts toward energy security.
‚ÄúCommercial operations will start by late 2014 or early 2015,‚Äù Marasigan said.
The 81-MW wind project received a declaration of commerciality on June 17 from the Energy Department, allowing Northern Luzon UPC Asia to proceed with the project construction.
Ayala‚Äôs wholly-owned subsidiary AC Energy signed an investment framework and shareholders‚Äô agreement in July with UPC Philippines Wind Holdco I B.V. and Philippine Investment Alliance for Infrastructure, or PINAI, to construct the wind project.
Data from the Global Wind Energy Council show the Philippines, being one of the important emerging wind markets in Asia, was expected to install in excess of 500 MW of wind capacity by 2020 from 33 MW as of 2011.