LAOAG CITY – A lease deal for the development of a 100-hectare hybrid renewable energy plant at the Dungon-Dungon estate in the towns of Bangui and Burgos was signed by the Ilocos Norte provincial government and the Alba Renewables Philippines yesterday, September 8.
Andres Martin Buldu, chief development officer of Alba Renewables, said his company is targeting to invest $100 million in the project.
Buldu said the lease agreement, signed after eight months of feasibility study, will unlock capital for the project, which will integrate wind and solar energy generation with advanced battery storage systems.
“We have conducted a series of technical and economic assessments for the project, fine-tuning lay-outs and running a combination of technologies to finalize an investment case,” Buldu said.
The hybrid renewable energy plant, as designed, would help reduce the carbon footprint from con-ventional energy production while generating more jobs for local residents, Buldu said.
Buldu said the project could employ thousands of Ilocanos not just during its construction but also dur-ing its operations.
Aside from the taxes, the provincial government will collect an annual P6 million lease payment from the developer, the provincial government and Alba Renewables said.
In his speech during the ceremonial signing held at the Capitol’s session hall, Ilocos Norte Vice Gover-nor Matthew Joseph Manotoc expressed the provincial government’s whole support for the project.
“We assure you of our support as a business-friendly provincial government. We really look for in-vestments that truly benefit our people,” he said.
Ilocos Norte Governor Cecilia Araneta-Marcos expressed gratitude to Manotoc for laying the ground-work for the project when he was still governor of the province.
With its strategic location, Ilocos Norte has positioned itself as a key commercial hub in Northern Phil-ippines, linking North and Central Luzon to major Asian markets, including Taiwan, China, Hong Kong, Japan, and South Korea, provincial officials said.
The province’s ready-for-occupancy infrastructure, reasonable permit fees, competitive labor costs, business-enabling policies, and good governance make it an ideal location for industries such as food and agriculture, tourism and creative industries, renewable energy, and responsible mining, and other services, Ilocos Norte officials said. (PNA)
