Lopez-led Energy Development Corporation (EDC) has gotten the green light from the Department of Energy (DOE) to push through with the development of its $300-million wind project in Burgos, Ilocos Norte.
The DOE granted the Certificate of Confirmation of Commerciality for the 87-MW Burgos Wind Project, which aims to become the largest wind farm in the Philippines. This is the first to be issued by the DOE for a wind project.
With the certification, the Burgos Wind Project’s wind energy service contract is converted from exploration/ pre-development stage to the development/ commercial stage.
“This milestone affirms our efforts to pursue and fast track the project in order to be the first to achieve commercial operations by 2014. Our recently closed $80 million club loan plus P7 billion we raised brings our total cash to P19 billion. We have, without a doubt, a fully funded business plan,