Constellation Energy eyes renewable energy projects

MANILA, Philippines - Constellation Energy Corp. is eyeing seven new renewable energy projects in the near term, a company official said.

Constellation Energy chairman Jose Leviste said these projects include one geothermal project in Biliran, Leyte; one wind power project in Panglao, Bohol and three hydroelectric power projects in Bago (13.2 megawatt), Salug Daku 2 (6 MW), Salug Daku 3 (2.5 MW), and Salug Daku 4 (4 MW).

Leviste said the company is banking on the potential investment opportunities in the Philippines.

For the period 2008-2017, a DOE data showed that Luzon would need additional capacity of 3,000 MW; 500 MW in the Visayas and 600 MW in Mindanao.

“We would like to identify and acquire multi-technology RE projects for financing and development in the Philippines,” he said.

The company currently has RE service contracts with the Department of Energy (DOE). These are: hydro projects in Dupinga (3 MW); Alag (39.5 MW); and Bongabong (28 MW).

It is also the lone bidder for a geothermal project in Montelago, Mindoro Oriental (20-40 MW).

In October 2009, the company got contracts to explore wind power projects in Ilog, Tanjay and Pamplona.

A subsidiary of EnerAsia Renewables Corp. of Canada, Constellation Energy is among the growing number of renewable energy companies who have set up shop in the Philippines following the signing of the Renewable Energy Act in late 2008.

The said law grants fiscal and non-fiscal incentives to proponents of renewable energy projects.

Just recently, the DOE awarded more than 80 plus contracts to these firms who are looking to cash in on solar, wind, hydro, geothermal, biomass and ocean power resources in the country.

Constellation Energy has various partners and investors in Canada, Singapore, Italy, Australia and Hong Kong.

In the Philippines, Constellation Energy has existing partnership with PNOC-Renewable Energy Corp., Development Bank of the Philippines, National Power Corp-Small Power Utilities Corp. and Filtech Energy Drilling Corp. (FEDCO).