The 13.2-megawatt (MW) of Nabas-2 wind power project (Nabas-2) of PetroWind Energy Inc. (PWEI) was granted fiscal incentives by the Board of Investments (BOI).
PGEC President F.G. Delfin Jr. said the company’s additional investment will lead to more “concrete benefits” to host communities—jobs generation, taxes and royalty remittances, enhanced business and eco-tourism opportunities for the locality, and more clean power supply to households and industries in the Visayas among others.
“We welcome BOI’s approval of the Nabas-2 incentives registration as it will boost the power generation capacity of our service contract block, thus contributing to DOE’s [Department of Energy] goal of making western Visayas a renewable energy [RE] hub of the country,” Delfin said in a statement.
BOI Managing Head and Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said the government looks forward to PGEC’s registration with the BOI of more RE projects in its pipeline.
“We are grateful to the Yuchengco Group and Thailand’s Bangchak Group for their continuing trust and investment in the country. This only shows that the efforts of President Ferdinand R. Marcos, Jr. in attracting private local and foreign investors continue to bear fruit and we enjoin all local government unit hosts to support these investments as well,” said Rodolfo.
PWEI is the joint-venture between Yuchengco Group of Companies’ PetroEnergy Resources Corp. (20 percent), PetroGreen Energy Corp. (40 percent), and Thai-owned BCPG Wind Cooperatief UA (40 percent).
The Nabas-2 project is located south of the existing 36MW Nabas-1 wind power plant which has been transmitting power since 2015 and remains as the single biggest source of renewable energy in Aklan.
In September 2022, Nabas-2 was officially awarded by the DOE as the winning bidder for the first green energy auction for wind in the Visayas grid. A year later in September 2023, PWEI and the National Grid Corporation of the Philippines (NGCP) sealed a connection agreement for the facility allowing it to connect to NGCP’s 69 KV transmission line via a new substation to be built by PWEI.