Philippines announces renewables project worth $125 million

• 13 years ago (2011-01-10)
• Junior Isles

Asia 892 Renewables 776

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The Subic Bay Metropolitan Authority (SBMA) in the Philippines has given the green light for the establishment of renewable energy projects in its freeport worth $125 million, officials have said.

SBMA Chairman Feliciano Salonga announced that the request of Subic Wind Power Generation, Inc. (SWPGI) to expand its business and include the establishment and operation of a solar energy project on top of its original proposal to establish and operate a wind farm has been approved.

SWPGI, a subsidiary of the China-based Sunnew Investments Ltd., had committed $75 million last year for the establishment of a 25-wind turbine farm that would generate some 50 MW for the area.

However, after further surveys and initial data gathering in Subic, the firm has decided to also build an additional solar energy project that would yield a further 100 to 200 MW of energy, Salonga said.

The expanded project will be worth $125 million, covering some 300 hectares of land at Subic’s Mount Sta. Rita and Redondo Peninsula, and will generate 150 to 200 MW in total.

Salonga said this is in line with the government's intention to accelerate the development of indigenous and renewable power generation systems in the country.

It is also expected to employ about 150 workers, and earn the SBMA some $816 000 in annual lease rentals, he said.

“SWPGI’s renewable energy project will not only bring the Subic Freeport at the forefront of the green energy movement, but will also help stabilise power supply in the Luzon grid,” Salonga said.

“Subic has long been a net power consumer, but with this project we’re now entertaining the prospect of Subic as a net power producer,” Salonga said.