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. Philippine-Canadian venture to explore renewable energy

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by Staff Writers
Manila (AFP) April 22, 2009
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 which 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.

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