Tuesday, May 26, 2015

Ayala unit launches Pagudpud wind farm

By Alena Mae S. Flores | Sep. 05, 2013 at 12:02am
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’s efforts toward energy security.

“[They will start] commercial operations by late 2014 or early 2015,” 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’s wholly-owned subsidiary AC Energy signed an investment framework and shareholders’ agreement in July with UPC Philippines Wind Holdco I B.V. and Philippine Investment Alliance for Infrastructure, or PINAI, to construct the wind project.

PINAI, a P26-billion fund, is composed of the Government Service Insurance System, APG and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd..

AC Energy agreed to take a 64-percent stake while PINAI will own 32 percent. UPC holds the 4 percent of Northern Luzon UPC Asia, the project company for the wind farm in Pagudpud.

The project will increase AC Energy’s wind farm portfolio in the Philippines, building on its current 50-percent ownership of NorthWind Power Development Corp., which already operates a 33-MW wind farm in Bangui, Ilocos Norte.

Siemens Energy of Germany, meanwhile, will supply the wind turbines for the Pagudpud wind project.

Siemens will deliver and install 27 direct drive wind turbines of the type SWT-3.0-101, with a 3 MW output and a rotor diameter of 101 meters.

Data from the Global Wind Energy Council showed 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.
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