Thai firm eyes jv for wind proj
MANILA, Philippines - Thailand’s Electricity Generating Public Co. Ltd. (EGCO) is now doing due diligence for a possible joint venture with Philippine Hybrid Systems Inc. for a wind power project in the country.
In an interview, Frank Thiel, managing director of Quezon Power Philippines Ltd., which is controlled by EGCO, said the possible joint venture deal for a 48-megawatt (MW) wind power product in Mindoro is being studied.
“We’re still looking at that but no decisions have been made yet. We’re still doing some due diligence for the project. It looks very promising and it looks good,†Thiel said.
He said EGCO hopes to come up with a decision within the next two to three months.
“We’re hoping to be there at the end of the day but we still have a ways to go. Probably in the next two to three months will be able to make a decision on that,†Thiel said.
He assured that the company would comply with the necessary laws.
“It’s about what the law allows a foreign investor to own. We want to comply with everything that is required by the government here in terms of renewable energy regulation,†he said.
Quezon Power owns and operates a 460-MW coal plant in Mauban, Quezon.
Thiel said it was too early too disclose details on how equity sharing arrangement would be for the wind project due to confidentiality issues.
“We can’t disclose the amounts because we have confidentiality agreement with PHESI, the company leading the development. We’re conducting due diligence,†he said.
If the project pushes through, it would provide additional power to the province, which would need additional power supply as it prepares for a strong economic growth.
“Mindoro will become conducive for expanding business in tourism, manufacturing, and other industries, thereby improving the economy of the island,†Oriental Mindoro Rep. Rodolfo Valencia earlier said.
EGCO is one of the largest independent power producers (IPPs) in Thailand.
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