Coro Energy gets thumbs up for 100-MW wind project in the Philippines

London-listed Southeast Asian energy group Coro Energy Plc (LON:CORO) has been granted the right to develop a 100-MW onshore wind farm project in the Philippines.

The company said on Tuesday its application for the wind energy service contract (WESC) it sought for the Oslob scheme had been approved by the Philippine Department of Energy.

According to the Department of Energy, a WESC “is awarded to a qualified applicant that passes legal, technical and financial evaluations on its proposed wind power project for commercial purposes”.

The contract has a 25-year term, with the possibility of a one-time expansion for another 25 years. It has two phases -- a pre-development stage of maximum three years, and the development/commercial stage, which covers the remaining years of the WESC.

Oslob is Coro Energy's second wind project in the Philippines. It will share a met mast with the company's first project, located in the vicinity.

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