AbaCore, PNOC eyeing 142-ha wind project in Batangas

MANILA, Philippines — A subsidiary of listed AbaCore Capital Holdings Inc. is partnering with state-run Philippine National Oil Co. (PNOC) to jointly develop a wind project on a 142-hectare property in Batangas.

This follows the signing of a memorandum of agreement (MOA) between AbaCore unit Simlong Energy Development Corp. (SEDC) and PNOC for the planned power venture.

Under the MOA, the parties commit to secure the required certifications and service contracts for a designated area of interest within SEDC’s 142-hectare land in Simlong town in Batangas City.

As part of the agreement, PNOC will lead a 15-month wind resource assessment to evaluate the site’s potential for wind power generation.

If successful, SEDC and PNOC will establish a special purpose vehicle for the development and operation of the planned wind facility, along with other viable energy businesses identified in the study.

“There is understandable excitement about potential scale, but final capacity will follow the science. That is the discipline embodied in this MOA: measure first, then build,” AbaCore and SEDC chairman Antonio Victoriano Gregorio III said.

According to AbaCore, Batangas is a strategic location for the wind resource study and the potential development of the power plant, given the planned port modernization in the province.

The Port of Batangas is one of the three priority ports identified as critical to offshore wind development.

The port is positioned close to 29 service contracts with a combined potential capacity of 24,300 megawatts, latest data from the Department of Energy showed.

Incorporated in 2013, SEDC is primarily engaged in the development and operation of power plants, natural gas terminals, pipelines for distribution of energy products and other power-related businesses.

PNOC, on the other hand, complements the private sector in developing various energy sources and accelerating the wider adoption of renewable power technologies.