AbaCore unit extends wind exploration deal with PNOC

MANILA, Philippines — A subsidiary of listed AbaCore Capital Holdings Inc. has extended its partnership with the Philippine National Oil Company (PNOC) to explore the possibility of developing an onshore wind farm in Batangas.

Simlong Energy Development Corp. (SEDC) said its partnership with PNOC has been extended until February 2028, allowing both parties to launch more comprehensive data gathering and analysis on a designated Area of Interest inside SEDC’s 142-hectare property in Simlong, Batangas City.

Under their agreement, the state-run group would still focus on the wind resources assessment, geo-spatial studies, mapping, techno-economic analysis and forecasting.

According to AbaCore Capital, the province of Batangas continues to be a “strategically attractive location” for renewable energy facilities as it has become a trade logistics center, power generation as well as port modernization.

“This is an incremental step that aligns our agreement with PNOC on the realities of conducting a comprehensive wind resource study,” said AbaCore Capital and SEDC chair Antonio Victoriano Gregorio III.

“Developments will follow the technical findings and viability assessments from the PNOC study,” Gregorio added.

READ: AbaCore unit, PNOC seek to build Batangas wind facility

Special purpose vehicle

If the area shows potential, AbaCore Capital previously said both groups would create a special purpose vehicle to lead the construction and operation of the planned wind farm.

SEDC is engaged in the construction and operation of power plants, natural gas terminals and energy-related infrastructure.

The group has interests in energy, real estate and financial services.

READ: AbaCore Capital profit up 106% to P82.66M

In the January to September period of 2025, AbaCore Capital reported that its earnings had more than doubled following gains from the disposal of its investment properties.

Consolidated net income soared by 106 percent to P82.669 million. /dda