A 50 MW wind power project in Negros Occidental is expected to be completed late next year, data from the Energy department showed.
In its updated report on private-sector initiated projects, the department noted that the wind farm of First Maxpower International Corp. is scheduled for testing and commissioning in November 2015.
The project — being built in the municipality of Pulupandan — is nearly 50% completed, it added.
It costs $124.475 million, which will be funded through 70% debt and 30% equity.
First Maxpower secured the green light to proceed with the construction in September last year.
The electricity generated by the plant will be applied under the government’s feed-in tariff program, under which it will be dispatched to the grid at a rate of P8.53 per kilowatt-hour for a period of 20 years.
First Maxpower, according to its Web site, is a local company established in 2009 to engage in power generation, particularly from renewable energy resources.
The company has two other proposed wind projects in the municipalities of Sanchez Mira and Claveria, both located in Cagayan province.