MEM Advises on PetroWind's First Philippine Wind Farm
Resource from: MEM Likes:309
Mar 17,2017
Modern Energy Management (MEM), a specialist in delivering project lifecycle certainty to renewable energy developers, financiers and investors, has extended its operations asset management contract with PetroWind Energy, Inc. (PWEI). The agreement will see MEM provide a further six months of advisory services to PWEI on its first Philippine wind farm, located at Nabas, in Western Visayas.
As part of the initial development of its 36MW wind farm at the site in 2016, PWEI appointed MEM to provide operations and asset management support services. Under the terms of this extension, MEM will continue to deliver asset management consultancy, analysing and advising on plant performance to optimise cash flow and reduce operating cost.
In addition, MEM has committed to delivering quarterly site audits and training to PWEI’s site team. With the support of these services PWEI will be able to identify potential operational risks and, by acting to mitigate them, deliver project success.
While wind power’s current contribution to the Philippines’ energy mix remains relatively small, the country has significant scope for growth. Indeed the American National Renewable Energy Laboratory has estimated the Philippines’ potential wind capacity at up to 76GW.
However, despite having overtaken all other Southeast Asian nations in terms of installed wind capacity, its current total of 400MW means there is still a long way to go before the country can realise its potential.
“This extension recognises the crucial advisory services MEM has provided, and their contribution to the success of the Nabas wind farm,” said Lars Lund, Director and co-founder of MEM. “Maximising cash flow while reducing costs is essential to the success not only of this particular wind farm, but also to capitalising on the significant wind energy potential across the Philippines.”
“MEM’s knowledge of the Philippine market and the initial support they provided was indispensable to ensuring good financial returns on what is our first wind farm in the country,” said Francisco G. Delfin Jr., Executive Vice President of Operations at PWEI. “We’re delighted to have signed this six-month extension to their asset management work at the site.”
(MEM)
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