Ayala’s 19-MW wind expansion project gets FIT endorsement

Although it is relatively a latecomer in the electric power industry, the Ayala group is gradually claiming its spot in the sector, and that was practically reinforced by securing the Department of Energy’s endorsement for feed- in- tariff ( FIT) availment ( FIT) of its 19-megawatt Northwind project expansion.

In a press statement, parent Ayala Corporation has noted that its project corporate vehicle Northwind Power Development Corporation has recently completed the project and “has since been operational and has been deliver- ing power to the grid.”

It emphasized that the expansion venture “increases Northwind’s capacity to a total of 52MW;” and following its expansion project’s completion, the energy department issued its required certificate of endorsement for FIT availment.

The Ayala group, however, still has immense appetite for bigger share in the subsidy for renewable energy projects, as it is now lining up its second 81-MW wind project for the same scope of FIT incentive.

“The project is awaiting the issuance of a certificate of endorsement for FIT from the DOE. Combined, Northwind and North Luzon Renewable Energy Corporation ( NLREC) put Ayala’s total wind power capacity at 133MW,” the company has noted.

Critics have been labeling the “FIT” as windfall for RE developers and ‘a financial burden still searching for justification’ to consumers; but investors and their cheerleaders would opt to call it “incentives”.

On the overall investment sphere of the power industry, AC Energy Holdings seem to be taking gradual steps when it comes to capacity expansions – including for power projects running on fossil fuels, such as coal.

To date, the Ayala group noted that its array of completed power generation facilities had built up its total capacity to 235MW – all wheeled to the Luzon grid.