Manila (dpa) – The Asian Development Bank (ADB) said Friday it was investing up to 20 million dollars in the Philippines’ largest wind farm to support the country’s effort to build up its renewable energy sector.
The Manila-based bank said the operation of the 150-megawatt Burgos Wind Farm in Ilocos Norte province, 434 kilometres north of Manila, would avoid the production of over 200,000 tons of carbon dioxide equivalent emissions a year.
“This wind farm is a major contributor to the government’s drive to scale up renewable energy use and to reduce its reliance on coal and petroleum for power generation,” said Christopher Thieme, director of ADB’s Private Sector Operations Department.
The farm, which was completed in November 2014, is owned and operated by a subsidiary of the Energy Development Corporation, a publicly listed firm that is the largest geothermal energy producer in the Philippines.
The ADB said the country’s untapped renewable energy resources are estimated at about 250,000 megawatts. The Philippines’ Department of Energy is targeting about 2,870 megawatts of additional installed capacity from these sources by 2030.