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Japan’s Kanematsu Wins Order to Build Wind Farm in Philippines

Oct. 3 (Bloomberg) -- Kanematsu Corp., a Japanese trading company, won an order to build a 54-megawatt wind power station and lay underwater cables for power transmission in the Philippines.

The order, worth more than 10 billion yen ($102 million), was awarded by Trans-Asia Renewable Energy Corp., a unit of Trans-Asia Oil & Energy Development Corp., Tokyo-based Kanematsu said in a statement today.

A long-term expansion of renewable energy is expected in the Philippines after the country introduced an incentive program for clean energy, known as feed-in tariffs, in July 2012, Kanematsu said. The project will be completed at the end of 2014 and will be financed through syndicated loans, it said.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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