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News: Siemens eyes RP wind energy projects - 25 Aug 2010
With the Philippines gaining edge as Asia’s mecca for renewable energy, German firm Siemens AG is rolling out investment plans aimed at cornering a chunk of the country’s emerging wind energy market.<p> In a roundtable discussion with reporters, Siemens Inc. Philippines President and Chief Executive Officer Jacky Chan indicated they “will potentially corner a good portion of the wind power market.” 
He bared that they are talking to some10 local and foreign companies which have previously applied with the Department of Energy (DoE) for wind pre-development contracts, but qualified that they are still bound with confidentiality agreements as to the identities of these prospective investors.The target, Chan said, will be for Siemens to either position as wind technology provider or engineering, procurement and construction (EPC) contractor.While the company sets hope to become an active player in the Philippine RE market, it cannot give figure yet as to targeted investment portfolio “because everything will depend on the design that project developers will present to us.”Apart from its interest in the RE market, the German firm is also eyeing opportunities as technology solution providers, such as what it currently has with the National Grid Corporation of the Philippines (NGCP) and Manila Electric Company.“One of the notable partnerships that Siemens has established in the local energy market is with the country’s biggest utility distributor Meralco,” it said.Chan further noted that “as the country’s energy solutions partner, it is our top priority to ensure efficiency in energy conversion, power generation, transmission and distribution.”<p>Citing the megatrends that will engulf future developments in the energy sector, company officials emphasized that “apart from the burgeoning population, urban migration is also a concern as cities typically account for 75-percent of a country’s total energy consumption.<p>Forecasts of demand growth due to urban migration, according to Siemens, will be one of the key areas it will be attending to in exploring overall solutions to pursuing sustainable energy supply.<p>In the backdrop of all these developments, the company noted that its “electrical engineering conglomerate’s green solutions for the energy sector aim to reduce the country’s carbon measure and forge a more secure energy path” for the future generation.<p> Source: Manila Bulletin Online, by Mryna Velasco, Business Section, 08/24/2010
Posted By: PhilCTTIS Data Center 
 
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