Ferdinand Dumlao, chairman of NorthWind, said that they were discussing financing packages with Japanese, Danish and Spanish investors.
Dumlao said that the company should concentrate on the Aparri wind farm after it completed expanding the Bangui facility, which originally generated only 24.75 MW for power distributors in Ilocos Norte.
NorthWind, a joint venture with Danish investors, has borrowed $13.1 million from the Danish International Development Agency in October 2008 to increase the capacity of Bangui facility to 33 MW at a total project cost of $50 milllion.
“We are pursuing our expansion plans because wind is a renewable form of energy, and it is very timely because of the passage of the Renewable Energy Bill. At the same time, wind projects are very environmental friendly,” Dumlao said.
Dumlao also said the support of Senate President Juan Ponce Enrile, Aparri Mayor Ismael Tumaru, and Cagayan Governor Alvaro Antonio have played a vital role in the success of the project.
The passage of the Renewable Energy Bill, Dumlao said, will also help entice investors to pour more funds into the capital-intensive projects, which would help the government decrease its dependence on traditional fossil fuel.
