WB cites firm’s success in wind power tech
The World Bank (WB) has cited the success of NorthWind Power Development Corp. (NorthWind) in generating electricity through the wind power technology in Bangui Bay, Ilocos Norte.
Neils Jacobsen, Danish engineer and environmentalist who has managed several power projects in the Philippines since the early 1990s, attributed the NorthWind’s success to a combination of three factors: right timing, right financing, and support from the World Bank through its Prototype Carbon Fund (PCF), which enabled NorthWind to generate more resources through the sale of carbon emission reduction credits under the Clean Development Mechanism (CDM) of the Kyoto Protocol.
The project started with 15 wind turbines in 2000 with 25 megawatt of capacity and a 60-kilometer transmission line to the Ilocos Norte Electric Cooperative in Laoag City. The project costs million, financed largely through an interest-free mixed credit from the Danish International Development Agency (Danida).
In June 2008, NorthWind added five more turbines, raising the wind farm’s capacity to 33 MW, enabling the company to provide half the province’s power needs.
WB country director Bert Hofman said the World Bank’s carbon finance program is a natural extension of its mission to fight poverty. “We want to ensure that poor countries can benefit from international efforts to combat climate change including the emerging carbon market for GHG emission reductions.”