Deal #10866

Land area

Intended size

625 ha

Size under contract (leased or purchased area)

[2022, current] 625 ha

Comment on land area

PNA reported that: "Aside from the existing Pagudpud wind farm that covers a forestland area of 625.04 hectares, Mejia reported that they are also exploring the mountains of Lammin in Piddig, Ilocos Norte for future wind energy development projects."

Intention of investment

[2023, current] Wind farm (625 ha)

Carbon offset project

Yes

Comment on carbon offset project

Registered under the Gold Standard Registry as ID # 11423: 160MW Balaoi & Caunayan Wind Energy Project

Nature of the deal

Outright purchase

Comment on nature of the deal

The project developer holds all the rights to the project land and does not require any change to land tenure arrangements.

Negotiation status

[2021-10-21] Concluded (Change of ownership)
[2022-06, current] Concluded (Contract signed)

Comment on negotiation status

On October 2021, the Ayala-led firm said it will also be raising its ownership in Bayog Wind Power Corp. to 100% from the previous 85%. Bayog Wind operates the 160-MW Pagudpud wind farm, which is under development Pagudpud Wind secured long-term market through the Green Energy Auction Program (GEAP) of the DOE auctioned in June 2022.

Implementation status

[2021-05-20] Startup phase (no production)
[2023, current] In operation (production)

Comment on implementation status

Reports stated that construction began in 2021 May. As of 2023, 80MW of the 160MW are in operation according to the profile page

Contract farming

No