Alternergy Philippine Holdings Corp announced that they had entered into a joint venture with Eurus Energy Japan Corp. and Korea East West Power Co. (EWP) to develop renewable energy projects in the Philippines. Both companies will invest a total of $100 Million into the company.

EWP is a subsidiary of Korea Electric Power Corp. (Kepco) while Eurus Energy Japan is a subsidiary of Eurus Energy Holdings Corp. of Japan which in itself is owned by Tokyo Electric Power Company, Inc. and Toyota Tsusho Corp.
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Phinma group’s, Trans-Asia Oil and Energy Development Corp are actively looking for partners in their wind power projects around the country. The company’s president and CEO, Francisco Viray, said that they plan to put up about 400 megawatts (MW) of wind power projects from 38 sites in the Visayas and Luzon islands of the country

They are calculating that for each MW of power produced, it will require about $2.5 Million in capital. This would require them to seek for financial assistance from a partner.
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Northpoint Wind Power Corp’s 40 MW, $95 M wind power project in Aparri, Cagayan is pushing through according to it’s chairman Ferdinand Dumlao. Northpoint Wind Power Corp is a subsidiary of NorthWind Power Development Corp.

The company has already started securing permits from the local government, DENR and DOE while also obtaining pertinent data for the site. The company is also working on for the wind farm to get supply contracts to supply electricity to the Cagayan electric cooperatives.
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Chinese Ambassador Liu Jianchao said that China was looking to invest in the renewable energy sector of the Philippines. Primarily in geothermal, wind and solar energy. They were looking for joint venture opportunities in the emerging renewable energy industry.

Aside from that, he also said that they were working on continued investment in the country’s infrastructure, mining, farming, telecommunication and education sectors as well.
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In a letter sent by the Jordanian government’s Ministry of Energy and Mineral Resources to the Philippine Department of Foreign Affairs (DFA). They had extended an invitation to parties interested in offering consultancy services to market wind energy in their country. More specifically to develop the wind energy capacity of Jordan.
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The Department of Energy (DOE) announced that they will set up a P2-billion trust fund over the next five years to support the development of renewable energy in the country which was jumpstarted by the passage of the Philippine Renewable Energy Act.

The fund would be sourced from different government agencies. At least 1.5% would come from the Philippine Amusement and Gaming Corp. (Pagcor), which regulates gambling in the country. Another source would be the Philippine Charity Sweeptakes Office (PCSO) which runs the government’s lottery program.
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