DOE signs two onshore wind contracts with foreign company
- March 11, 2024
- 0
The Department of Energy (DOE) has si
These onshore wind projects, namely the Santa Ana Cagayan Wind Project with 100 MW capacity and the Panaon Wind Project with 340 MW capacity, have contracts allowing them to operate for 25 years.
“The signing of these onshore wind contracts further accelerate the implementation of the thrust of the Marcos Jr. Administration to develop the country’s indigenous and renewable sources of energy following the lifting of foreign ownership restrictions on renewable energy development,” said Energy Secretary Raphael Lotilla.
Additionally, these projects symbolized the firm’s first wholly-owned onshore wind service contracts in the country. Through this, Mainstream became one of the 100% foreign-owned companies that will utilize indigenous and renewable energy (RE) sources.
Mainstream has been operating in the country since 2017 and is currently in partnership with Aboitiz Power Corporation to establish a 58 MW onshore wind project in Camarines Sur. The project secured a 20-year offtake contract via the Department of Energy’s Green Energy Auction Program (GEAP). Construction is slated to commence in late 2024, with full operational status anticipated by 2026.
“Mainstream will be bringing in financial muscle and technological heft to work with our world-class workers throughout the construction and operational phases of all these projects, which means more employment for our people and livelihood opportunities in these areas,” said Lotilla.
The Energy Department has issued 21
Several of these companies are either partially or fully owned by developers from Belgium, Denmark, France, and the Netherlands.