Ayala Corporation joins renewable energy industry based on the following article.
Ayala Corp., which has just gone into the renewable energy business, will participate in the new projects of NorthWind Power Development Corp. in Aparri and Pamplona towns in Cagayan province.
NorthWind chairman Ferdinand Dumlao told reporters the company was confident of putting up new projects with the recent partnership with the Ayala conglomerate.
Michigan Power Inc., a wholly-owned unit of Ayala, last week acquired a 50-percent stake in NorthWind for P512 million, plus an additional payment depending on certain performance indicators.
“Like any developer, we are awaiting the approval of the feed-in tariff. The development of our expansion projects hinges upon approval of a viable feed-in tariff, which we hope that the petition will be filed on or before March 31 by the National Renewable Energy Board with the endorsement of the Energy Department,” Dumlao said. Continue reading the whole article here manilastandardtoday.com
More and more sectors now wants to be involved in developing the renewable energy sources. This is a good indication in terms of energy development since we should not be dependent on the supply of energy coming from exhaustible sources like petroleum and coal where most of our energy sources came from.
The northern portion of the Philippines were really blessed with the abundant supply of non-stop winds all year round which evident in the Bangui wind farm facing the South China Sea up to Aparri and Pamplona towns in Cagayan province facing the Pacific Ocean.
We just hope that this kind of trends in terms of renewable energy development will continue as the future demands of electricity continue to increase.
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