BCPG signs deal to buy stake in Philippines wind power plant
Thailand-based BCPG has signed a sale and purchase agreement to acquire an interest in a 50-megawatt wind power project in the Philippines as part of its Asian expansion.
BCPG expects the project to be profitable immediately.
The company’s president Bundit Sapianchai said BCPG signed the agreement with CAIF III Pte Ltd on Friday to acquire an interest in PetroWind Energy Inc, a “major player in the Philippines’ wind energy business”.
BCPG will hold a 40 per cent interest in the project, located in Nabas, Visayas Island.
Thirty-six of the megawatts are in operation and 14 are under development.
The acquisition will increase BCPG’s global generating capacity to more than 400MW worldwide, which is in line with its mission to invest, develop and operate green power plants globally.
The project is expected to have a plant load factor of 35-40 per cent, meaning a generation at maximum capacity of 8.4 to 9.6 hours per day.
In addition to solar and wind power energy, the company has been studying various types of renewable energy including geothermal and energy storage systems, mainly in Asia Pacific – not only to expand its business portfolio but to find innovations that will help drive new businesses to create sustainability in the long run, it said.