Kanematsu to build wind farm in Philippines

Kanematsu Corp. won an order to build a 54-megawatt wind farm and lay underwater cables for power transmission in the Philippines.

The order, worth more than 10 billion yen ($102 million), was awarded by Trans-Asia Renewable Energy Corp., a unit of Trans-Asia Oil & Energy Development Corp. (EDC), Tokyo-based Kanematsu said in a statement today.

A long-term expansion of renewable energy is expected in the Philippines after the country introduced an incentive program for clean energy, known as feed-in tariffs, in July 2012, Kanematsu said. The project will be completed at the end of 2014 and will be financed through syndicated loans, it said.