From left: PNOC-RC President & CEO John J. Arenas, Challenergy Inc. President & CEO Atsushi Shimizu, NAREDCO President & CEO Paul Michael C. Roblest Taguig City, Metro Manila, Philippines. 2018 May 23. MOU Signing amongst Challenergy Inc.,NAREDCO, PNOC-RC
Challenergy Inc of Japan, Natures Renewable Energy Dev’t Corporation (NAREDCO) and the Philippine National Oil Company Renewables Corporation (PNOC-RC) signed a Memorandum of Understanding for the conduct of a joint research and development on the application of Challenergy’s Magnus Vertical Axis Wind Turbine (Magnus VAWT) in the Philippines, last May 23, 2018 in the PNOC-RC headquarters in Bonifcaio Global City, Taguig City, Metro Manila. This is the second MOU entered into by Challenergy Inc. in the Philippines.
Challenergy is developing a first-of-its-kind wind turbine, to realize a safe supply of electricity for a sustainable society. Since August 2016, the company has been conducting field testing of its 1kW prototype in Okinawa, and is currently developing its 10 kW model, with the aim of starting mass production in 2020.
The Philippines is a country with an emerging economy, and power is an essential component to its development. It is composed of more than 7,000 islands, located in a typhoon-prone zone. This country is a promising market for the Magnus VAWT technology which offers a solution to problems of power shortage, especially in times of typhoon and its aftermath.
PNOC-RC is an attached agency of the Department of Energy and a wholly owned subsidiary of the state owned Philippine National Oil Company, mandated to pursue, develop and implement projects on new, renewable, clean and non-conventional energy sources and systems in the Philippines. To date it has already partnered with nine (9) government institutions in the implementation of solar rooftop projects in the country. It also operates and maintains the 1MW Rizal Hydropower Project and has 10% stake in the Maibarara Geothermal Plant. With the signing of this MOU, the company aims to develop projects using the Magnus VAWT technology, a first for the company.
NAREDCO is a private company which studies, develops and operates renewable energy projects in the country. They are currently developing utility scale renewable energy power plants in different locations in the country.
Challenergy Inc., PNOC-RC and NAREDCO have agreed to conduct a feasibility study for the installation of Magnus VAWT in several isolated islands in the country which (1) have stable wind condition, (2) are frequently visited by typhoons and (3) are powered by small diesel generators.
This MOU also serves to accelerate the business development of Magnus VAWT and to contribute to the efforts of the country to shift to a sustainable society.