First Gen seeks gov’t nod for 6 wind power projects
First Gen Corp. of the Lopez group is seeking the approval of the Department of Energy for six wind power projects in Luzon and the Visayas.
According to data from the DoE, First Gen hopes to further expand its clean energy portfolio by putting up wind power facilities in Ilocos Norte; Palanan-Ilagan in Isabela; Basud and Mercedes-Daet, both in Camarines Norte; Pandan in Catanduanes; and Culaba in Biliran.
First Gen Renewables Inc. (FGRI), a wholly owned subsidiary of First Gen Corp., will undertake the projects once the government gives its approval.
Based on information posted on the company’s website, FGRI has been tasked to develop greenfield prospects in the renewable energy market, particularly for solar, mini and small hydro and wind power. FGRI, through its unit, FG Bukidnon Power Corp. (FGBPC), owns and operates the 1.6-MW Agusan minihydro power plant in Damilag, Manolo Fortrich, Bukidnon.
FGBPC improved the plant and its management systems after it won the bidding for the facility conducted by state-run Power Sector Assets and Liabilities Management Corp. FGBPC took over the power plant in 2004.
First Gen, through another affiliate, Energy Development Corp., plans to start building the $260-million 86-megawatt Burgos wind farm in Ilocos Norte within the year, or once the feed-in-tariff rates (FIT) have been issued.
The Energy Regulatory Commission earlier said it would issue the much-awaited feed-in-tariff rates for renewable energy sources this July—a move that is seen to jumpstart the stalled local renewable energy industry.
The feed-in-tariff scheme, a mechanism provided under the Renewable Energy Law, is among the most critical considerations in a renewable energy project. The scheme will determine if a project is economically feasible and viable.
This scheme will likewise assure developers of future cash flows since electricity end-users will be charged fixed amounts to cover production of energy from renewable sources.—Amy R. Remo
