PetroWind taps DBP loan for Aklan project

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PetroWind Energy Inc., a unit of Yuchengco Group’s PetroEnergy Resources Corp., obtained a P1.8-billion loan from state-run Development Bank of the Philippines for a wind project in Aklan.

“This opportunity reaffirms the bank’s role and contribution in promoting the nation’s agenda of inclusive growth and economic development,” DBP president and CEO Michael de Jesus added.

PWEI is the project proponent of the 13.2-megawatt Nabas-2 wind power project in the province. It bagged a contract to deliver wind supply to the Visayas following the conduct of the Department of Energy’s Green Energy Auction Program. Earlier, PWEI and Denmark-based wind turbine manufacturer Vestas signed a turbine supply agreement for the Nabas-2 wind project. This involves Vestas delivering six units of 2.2-MW wind turbine generators and handling operations and maintenance of the wind farm through a 10-year operations and maintenance agreement.

PWEI also operates the 36-MW Nabas-1 wind power project which has been supplying cleaner energy to the Visayas grid as early as 2015.Your subscription has been successful.

 

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