| NorthWind Power to expand its wind farm |
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The NorthWind Power Corp. is set to expand its newly inaugurated wind farm in Bangui Bay, Ilocos Norte. Ferdinand Dumlao, chair of NorthWind, said the company is set to invest $13 million to add five more wind turbines to its farm. Dumlao said the company has only used half of the 9-kilometer stretch it has allocated for 15 wind turbines, adding the remaining half is open for expansion. Initially the funding that was given to us was for 5 turbines, which is equivalent to 8 megawatts," he said. The Danish International Development Agency (Danida) has again agreed to fund the second phase of t;he project, Dumlao said. Danida partially funded the first phase of the Bangui Bay project, which has a 24.75-megawatt capacity. All 15 wind turbines are connected to the Luzon grid, and have been delivering power to the Ilocos Norte Electric Cooperative since May 7. NorthWind sells its power to the cooperative at 7 percent lower than rates charged by the National Power Corp. Danida shelled out $29.35 million of the $50-million project cost through a zero-interest mixed-credit facility, which was complemented by a guarantee from the Philippine Export-Import Credit Agency. About $10.5 million came from grants, while the balance was put in by NorthWind shareholders. NorthWind's major shareholders include Moorland Phils., Phildane Resources Corp. and Fabmik Construction and Equipment Corp. Dumlao said NorthWind is considering another 40-megawatt wind-power project in Cagayan in the next two years. PAUL ANTHONY A. ISLA “NorthWind Power to expand its wind farm” Manila Times June 20, 2005 |