Jun 23, 2014 - Philippine-based PNOC Renewables Corp intends to install over 300 MW of renewable energy capacity by 2018 as part of a five-year plan, the Business World Online said yesterday, citing business development manager Pamela M Cea-Borlaza.
The additions will onclude solar, run-of-river hydro and biomass capacity, with the total cost estimated at at least USD 1.2 billion (EUR 882m). PNOC Renewables, which is part of state-owned Philippine National Oil Co, will develop the projects mainly in collaboration with the private sector, which will take part in the financing.
The company's plan includes a 1.5-MW hydropower plant (HPP) in Nueva Ecija, a 50-MW solar park on the island of Leyte, a 6-MW rooftop photovoltaic (PV) system for the University of the Philippines in Los Banos, as well as 22 MW of hydropower facilities in Negros.
The 1.5-MW HPP scheme will be developed first under a 50/50 joint venture with National Development Corp. The plant is expected to be switched on by the middle of 2015, selling its output to a local electric cooperative.
Meanwhile, PNOC Renewables will seek joint venture partners for 20 MW HPP projects in Negros. Bidding procedures will take place on July 9, said Cea-Borlaza, as quoted by the newspaper.
(USD 1.0 = EUR 0.735)
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