Energy Development Corporation (EDC) issued the Notice to Proceed (NTP) to its wind farm contractor, Vestas, on June 21, 2013, marking the start of actual construction works at site for the initial 87 MW of what is intended to become a 150 MW wind farm. Since the project’s groundbreaking ceremony last April 19, 2013, certain preparatory early works had been undertaken at the site, but now, following the issuance of NTP, the full construction effort will immediately get under way, at the 600 hectare site covering three barangays, namely, Saoit, Poblacion and Nagsurot, in Burgos, Ilocos Norte.
Vestas of Denmark, the leading wind turbine manufacturer in the world, will construct the 87-MW wind farm and ancillary equipment and facilities under a full turnkey engineering, procurement and construction (EPC) contract. Vestas will install 29 units of its V90-3.0MW turbines. Burgos Wind Project also signed a 10-year Operations and Maintenance Agreement with Vestas, which features an energy-based availability guarantee.
The Department of Energy (DOE) granted BWP its Certificate of Confirmation of Commerciality last May 16, 2013. “The BWP is a major pillar of our Php32 Billion investment plan this year. We are proceeding as planned given our fully funded business plan and the proven Vestas technology. We are pleased to announce that the construction of the BWP will now commence and we are confident that BWP will be the first to achieve commercial operations by 2014,” EDC President and COO Richard Tantoco said.
The total estimated investment cost for the project is $300 million. EDC recently closed an US$80 Million club loan facility and Php7.0 Billion fixed rate bonds to boost its significant cash reserves. “It is deliberate that our Php7 Billion fixed rate bond is a single purpose facility meant solely for the funding of the BWP as this readily covers the spend on BWP this 2013,” Tantoco added.
The Burgos Wind Project marks EDC’s decisive foray into the wind energy business and once completed will be the largest wind farm in the Philippines. “EDC is focused on clean energy. We have geothermal and hydro generation and with Burgos, the three technology platform will be complete. Now that we have honed our skills to develop a viable wind project, we intend to add an additional 21 units of 3 MW wind turbine generators to bring Burgos Wind Project’s capacity up to 150 MW,” Tantoco added.
The BWP is one of the largest investments to date in Ilocos Norte. Once operational, the BWP is expected to generate about 233 gWh of electricity a year, enough to power more than a million households and augment the Luzon grid’s dependable capacity, which needs an additional 4,200MW in the next ten years.
The Energy Development Corporation (EDC) is a pioneer in generating 100% clean, renewable, and reliable power as an electricity supplier in the Philippines for over 40 years. With power plants all over Visayas and Mindanao, the company is one of the biggest producers of geothermal energy in Asia and is expanding its reach in the international market, allowing it to offer customers affordable energy rates. EDC also strives to provide the best customer service it can to all its clients by having helpful salespeople and easy to understand contracts. Because of all of this, it is poised to become the premier supplier of electricity for the Philippines’ Green Energy Option Program. EDC takes its mission as a renewable energy provider seriously and goes beyond sustainability by investing in programs that enhance the environment and empower its partner communities, thereby fostering regenerative development. The company has also been working toward being carbon-neutral by improving its energy efficiency, as well as implementing various greening projects to ensure that its mission to provide future generations with a better life remains intact.