"While they are waiting for the feed-in-tariff (FIT), they have been talking to our engineers for their planned inter-connection with Meralco," he said.
The FIT is the tariff incentive for renewable energy projects mandated by Republic Act No. 9513 or the Renewable Energy Act of 2008. Consumers, will shoulder the tariff under another line item in their electricity bills.
Regulators are currently conducting public consultations on the FIT, which is projected to be released by the middle of the year.
Renewable energy developers, including Alternergy, are still waiting for the approval of the FIT as the incentive will help offset the high cost of green power investments compared with generating plants that run on fossil-fuels.
Fernandez said Alternergy’s proposed wind farm will be located along the Northeastern coast of Laguna de Bay near the Malaya diesel power plant.
Earlier this year, the two companies signed an agreement for the direct connection of the wind farm to the Meralco franchise, subject to the approval of regulators.
This will allow consumers to save on transmission costs because electricity produced from the proposed wind farm would not have to pass through the power grid.