History

COASTALPOWER DEVELOPMENT CORPORATION (coastalpower) was conceived to response to the government invitation for the private sector to become partner in the development of renewable energy resources of the Philippines.

COASTALPOWER is presently involved in wind power development. Within the next decade COASTALPOWER envisions to become a leading wind power producer in the country. With the government vision of installing at least 417 MW of wind-based power projects, and with the country's wind potential of at least 7,400 MW, the company would like to become a leading government partner in developing the country's wind resources.

In the middle of 2005, COASTALPOWER recognized several areas of wind exploration including: Nueva Ecija, Camarines Norte, Sorsogon and the island provinces of Marinduque and Romblon. Thus, in December 2005, the Department of Energy (DOE) awarded to COASTALPOWER the Production Sharing Contract for OSW Energy Resource for Carranglan, Nueva Ecija, covering a total area of 2,025 hectares. Also, on the same month, DOE granted the blocking of potential wind sites for Marinduque, Tablas and Romblon in favor of COASTALPOWER Corporation.

COASTALPOWER is continuously exploring its research on wind data system impact and facility study in preparation with the preliminary energy production in the year 2009, as its initial stage of operation.

In the near future, the Company will be developing several wind potential areas within the Luzon Grid in time for the establishment of the Wholesale Electricity Spot Market (WESM). Under a deregulated environment, electricity will be traded electronically on an hourly basis, giving special attention and priorities for new and renewable energy with intermittent energy resource