AbaCore, PNOC extend Batangas wind farm study to 2028

LISTED holding company AbaCore Capital Holdings, Inc. said the study on the potential Batangas wind farm with state-run Philippine National Oil Co. (PNOC) has been extended until Feb. 29, 2028, giving the latter additional time to assess the site’s viability.

“The main objective of the study is to determine viability of the area for the establishment of energy hub and energy infrastructure development,” AbaCore said in a disclosure on Tuesday. “Should the result of the study yield positive result, it will enhance the goal of the company of diversifying its investment asset portfolio.”

Under the amended memorandum of agreement, PNOC has three more months to spearhead an 18-month study covering wind resource assessments, geo-spatial studies, mapping, techno-economic analysis, and forecasting.

The study will examine the potential for an onshore wind energy facility inside Simlong Energy Development Corp.’s 142-hectare property in Batangas.

The project forms part of AbaCore’s strategy to develop energy assets aligned with long-term national demand and sustainability goals.

“Batangas remains a strategically attractive location for renewable energy development, given its growing role as a center for trade logistics, power generation, and port modernization,” the company said.

AbaCore and Simlong Energy Chairman Antonio Victoriano F. Gregorio III said the parties will base any development on the technical findings and viability assessments from PNOC’s study.

Established in 2013, Simlong Energy’s mandate includes the construction and operation of power plants, natural gas terminals, and energy-related infrastructure.

AbaCore acquired a 90% stake in the company in 2021 through a subscription of 900 million shares.

The holding company is also engaged in gaming equipment leasing, mining, real estate, and financial services.

At the local bourse on Tuesday, shares in AbaCore rose 10.77% to close at P0.36 apiece. — Sheldeen Joy Talavera