US-based investor building P2-B wind-diesel power plant
A US-based investor is building a P2.035 billion wind diesel hybrid energy power project which will supply electricity to
The Philippine Hybrid Energy Systems Inc. (PHESI), a subsidiary of
The Board of Investments (BOI) has agreed to provide fiscal and non fiscal incentives to the project as it falls under the energy, power generation category of the Investment Priorities Plan of the government.
Renewable energy is one of the preferred areas of investment by the government. Projects using indigenous and renewable energy source is eligible for pioneer status from the BOI.
The 25-megawatt wind diesel hybrid energy power system will be fully operational by January 2010. The power project is expected to supply approximately 23 percent of
The project will be located in
It is expected to supply electricity to Oriental Mindoro Electric Cooperative (ORMECO) and Occidental Mindoro Electric Cooperative (OMECO).
OREMCO distributes electricity to over 99,000 consumers in 421 barangays in Oriental Mindoro while OMECO distributes electricity to over 46,000 customers in 135 barangays in Occidental Mindoro.
PHESI said new investments and business will be heightened as the energy infrastructure improves not to mention the jobs and additional taxes the project is expected to create.
The project also intends to sell carbon credits as certificate of emission reduction given that it is expected to displace electricity from diesel generators burning bunker C and diesel fuels.
Benefits from the project include reduction in the cost of energy to the electric cooperatives, bring foreign investment in the province and significantly reduce greenhouse emissions.
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