The Department of Energy (DOE) has awarded Mainstream Renewable Power wind energy contracts to develop onshore projects in Luzon and the Visayas with combined output of 440 megawatts.
The Nordic Nippon tandem is pursuing the 100-MW Santa Ana Cagayan wind project and the 340-MW Panaon wind project on Panaon Island in Leyte. Mainstream’s major shareholders include Aker Horizons and Mitsui & Co. Ltd.
The contracts, each for 25 years, represent the first such contracts in the Philippines awarded to a fully foreign-owned entity as stand-alone developer. The DOE has issued 21 service contracts to foreign-owned companies and developers before but in partnership with Filipinos.
Mainstream first operated in the Philippines in 2017 as Aboitiz Power Corp. partner in pursuing the 58-MW onshore wind project in Camarines Sur.
Mainstream also has wind and solar assets across markets in Latin America, Africa and Asia-Pacific.
“With the Philippine economy now thriving, marked by good growth and optimistic forecasts, we are pleased with the positive response of foreign and local investors to pour capital in our country’s renewable energy sources. Mainstream will be bringing in financial muscle and technological heft to work with our world-class workers throughout the construction and operational phases of all these projects, which means more employment for our people and livelihood opportunities in these areas,” said Energy Secretary Raphael Lotilla, in a statement.
Installed capacity from wind total 427 MW or 1.5 percent of aggregate installed capacity of 28,359 MW, based on DOE data.
