PWEI owns and operates the Nabas Wind Power Project (NWPP) in Nabas-Malay, Aklan. PetroWind's official website
MANILA — PetroWind Energy Inc said on Thursday it has signed a P1.8 billion loan agreement with the Development Bank of the Philippines for the construction of its new wind power project.
The term loan agreement for the 13.2 MW Nabas-2 Wind Power Project was signed on Feb. 22, its parent PetroEnergy Resources Corp said in a disclosure to the stock exchange.
Under the agreement, the loan, with a 15-year tenor, would be used for major infrastructure such as the supply and installation of wind turbine generators, a temporary jetty, internal access roads and new substation and switching station, the company said.
"The success of our partnership with DBP proves that public-private partnership built on the commitment to development, ushers in long-term benefits to the environment, communities and the country, PWEI President Milagros Reyes said.
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PWEI is the operator of the 36 MW Nabas-1 Wind Power Project, which started supplying clean power to the Visayas grid in June 2015.
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