Energy Development Corporation (EDC) has gotten the green light from the Department of Energy (DOE) to push through with the development of its $300 million wind project in Burgos, Ilocos Norte.
The DOE issued its first certificate of confirmation of commerciality for a wind project for the 87-MW Burgos Wind Project (BWP), which aims to become the largest wind farm in the Philippines.
The certification converts the BWP’s wind energy service contract from exploration/ pre-development stage to the development/ commercial stage.
“This milestone affirms our efforts to pursue and fast track the project in order to be the first to achieve commercial operations by 2014. Our recently closed $80 million club loan plus P7 billion we raised brings our total cash to P19 billion. We have, without a doubt, a fully funded business plan,” EDC president and COO Richard Tantoco said in a statement.
The BWP is EDC’s entry into the wind power sector, complementing its geothermal, hydro and natural gas facilities.
“We have the distinction of having over seven years of accurate wind data so we are absolutely certain of our site and the wind resource. Because of this, we are rapidly taking all necessary steps to increase the capacity of the Burgos Wind Project from 87MW to 150MW,” Tantoco said.
The BWP is expected to generate approximately 233 GWh annually, enough to supply the energy demand for over a million households.