The Board of Investments (BOI) granted fiscal incentives to PetroWind Energy Inc.’s (PWEI) P2.57-billion, 13.2-megawatt Nabas-2 Wind Power Project (Nabas-2) in Aklan province.
PWEI is a joint venture between Yuchengco Group of Companies’ PetroEnergy Resources Corp. (PERC) with 20-percent interest, PetroGreen Energy Corp. (PGEC) with 40 percent and Thai-owned BCPG Wind Cooperatief UA with 40 percent.
“We welcome BOI’s approval of the Nabas-2 incentives registration as it will boost the power generation capacity of our service contract block, thus contributing to DOE’s goal of making Western Visayas a renewable energy [RE] hub of the country,” PGEC president and chief executive Francisco Delfin Jr. said.
He said PWEI’s additional investment would lead to more concrete benefits to host communities – jobs generation, taxes and royalty remittances, enhanced business and eco-tourism opportunities for the locality, and more clean power supply to households and industries in the Visayas.
Straddling the towns of Nabas and Malay in northern Aklan, the Nabas-2 project is located south of the existing 36MW Nabas-1 wind power plant which has been transmitting power since 2015 and remains as the single biggest source of renewable energy in Aklan.