Ayala’s energy arm receives FIT compliance for N. Luzon wind farm projects
MANILA, Philippines – AC Energy Holdings Inc., the power arm of Ayala Corporation received its certificates of compliance (CoCs) from the Energy Regulatory Commission (ERC) for its wind energy projects in Ilocos Norte.
The feed-in-tariff (FIT) CoCs issued April 13 entitles AC Energy’s wind farms in Bangui and Caparispisan to an FIT rate of P8.53 ($0.19) per kilowatt hour (kWh) for a period of 20 years.
The FIT rate from October 10, 2014 to October 9, 2034 covers AC Energy’s Northwind Power Development Corporation’s 19-megawatt (MW) Bangui wind farm expansion.
The FIT rate for Caparispisan, Pagudpud, under North Luzon Renewable Energy Corporation’s (North Luzon Renewables) 81-MW wind farm is good from November 11, 2014 to November 10, 2034.
Prior to the issuance of the CoC, the Department of Energy issued a Certificate of Endorsement for FIT for both wind farm projects after these were commissioned and started commercial operations.
Under the FIT scheme, companies may apply for a CoC, enabling them to dispatch electricity to the grid at a fixed rate for 20 years, Energy Secretary Carlos Jericho Petilla earlier said.
As such, companies are racing to build renewable energy facilities to take this opportunity provided that they meet the government quota of 500-MW, Petilla added.
Northwind’s 19-MW expansion was completed in October 2014 and delivering power to the grid. The expansion puts Northwind’s total capacity to 52MW.
North Luzon Renewables also completed its 81-MW wind farm and is operating since November 2014.
Combined, Northwind and North Luzon Renewables put Ayala's total wind power capacity at 133MW, one of the largest in the country today.
Since 2011, Ayala has committed over $700 million in equity to develop conventional and renewable energy sources.
AC Energy has currently assembled over 700MW of attributable capacity, nearing to its target of assembling over 1,000 MW of attributable capacity from power plants by 2016.
“The completion of these (wind farms) projects is quite timely given the anticipated tightness in power supply this year. We hope to further expand our renewable energy portfolio and help increase the share of renewables in the country's energy mix,” AC Energy President Eric Francia said. – Rappler.com