First wind power project in operation
The first wind power project in the Philippines, a 25 MW wind farm of 15 Vestas 1.6 MW turbines, is now in operation at Ilocos Norte at Bangue Bay. A second 8 MW project using the same turbines will be installed over the next year, says Marc Normann from the Danish foreign ministry's department for finance and business. A third project, again of 25 MW, is slated for erection at Smith Bell during 2007, adds Normann. Private developers are responsible for all three projects, he says. The Danish state, through its overseas aid organisation Danida, is offering assistance in the form of ten to 15 year financing of the projects. The loan will be paid from Danish overseas development aid funds and will thus be interest-free. Sales of electricity from the wind plant will pay off the loan. The good wind conditions and acceptable purchase prices for wind power in the Philippines allow the project to be economically viable, says Normann.
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