Japan

Japan

Loan still pending for 40 MW wind farm

The Philippine National Oil Co (PNOC) will find out in the next few months whether it is to get funding for a 40 MW wind farm in IIocos Norte province in the northern Philippines. The state owned company has applied for a $50 million soft loan from the Japan Bank for International Cooperation to build south east Asia's biggest wind project, including a 42 kilometre transmission link from Burgos to a substation in Laoag. According to the bank's Tokyo headquarters, a decision on the loan has not yet been made. A spokesman declined to speculate on when and if the loan might be approved. If it goes through, a supplier will most likely be chosen through an international competitive tender, says the bank. The expected 40 year loan will include a ten year period of grace on repayments. According to PNOC-ECD chairman Sergio Apostol, aid will also be sought to extend the project to 120 MW. PNOC is studying other wind projects in the Philippines. It will reveal plans to develop an additional 300 MW of wind development in various parts of the country when the present project gets under construction in 2004. The Philippine Department of Energy says the country's wind power potential could be as much as 70,000 MW.

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