Philippine-Canadian Venture To Explore Renewable Energy
April 22 2009 - 5:57AM
Dow Jones News
MANILA (AFP)--A state-owned Philippine energy company and a
Canadian firm have agreed to pursue renewable energy projects in
the Southeast Asian country, an official from the Philippine
partner said Wednesday.
The two companies are looking at sites in the central Philippine
islands that have been suffering from energy shortages, according
to the memorandum signed by Philippine National Oil Co. Renewables
Corp. and Constellation Energy Corp.
"We are optimistic that this (agreement) with Constellation
Energy will fast-track our hydro, solar, and wind energy projects,"
said Pedro Maniego, president of the Philippine partner.
"We are initially looking at projects that will produce from 25
to 50 megawatts of energy," he added.
The first ventures are expected to be launched next year.