First Philippine Holdings to ditch coal, build more wind capacity
150-MW Burgos wind farm in Philippines. Source: Asian Development Bank (ADB). License: All Rights Reserved
Energy Development Corp (PSE:EDC) confirmed that its parent, First Philippine Holdings Corp (FPHC), intends to turn its back on coal power and look towards doubling its wind capacity.
Commenting on a Tuesday article by the Manila Bulletin, the company confirmed that it will not build, develop or invest in any coal-fired power plants. It also said that doubling wind to 300 MW "is likewise the intention moving forward over the next three years”.
FPHC president Francis Giles B Puno was cited by the Manila Bulletin as saying that a two-fold increase in installed wind capacity would mean a roughly USD-450-million (EUR 402.6m) investment. The expansion could kick off once EDC’s application for a governmental feed-in tariff (FiT) obtains approval.
At present, geothermal-focused EDC owns and operates the 150-MW Burgos wind park in Ilocos Norte.