BCPG Public Company Limited, as a joint venture of PetroWind Energy Inc. (PWEI) – a developer of wind power projects in the Philippines, signed a loan agreement of P 1,811 million (THB 1,100 million) with the Development Bank of the Philippines for the commercial development phase and construction of a 13.2-MW Nabas-2 project in Visayas Island, Nabas, the Philippines.
The company has completed engineering, procurement, and construction contracts since late 2022 and expects to start commercial operation of the Nabas-2 project within 2025.
“We aim to start COD of the 13.2-MW Nabas-2 wind power project by 2025. The project has secured a power purchase agreement from the green energy auction program at 5.76 P/kWh or 3.63 Bath/kWh for 20 years”, said Niwat Adirek, President and CEO of BCPG.
BCPG has invested in the wind power business in the Philippines since 2017 through an acquisition of 40% in PWEI, with a total production capacity of 49.2 MW; 36-MW Nabas-1 project, which is now in operation, and 13.2-MW Nabas-2 project under development. After completing the Nabas-2 project, BCPG would secure, according to share proportion, 19.7 MW.