ABACORE Capital Holdings, Inc. on Tuesday said that its subsidiary, Simlong Energy Development Corp. (SEDC), had extended a partnership with Philippine National Oil Co. (PNOC) to explore potential wind resources in Batangas.
“This is an incremental step that aligns our agreement with PNOC on the realities of conducting a comprehensive wind resource study,” Simlong Energy Chairman Antonio Victoriano Gregorio III said.
“With this in mind, developments will follow the technical findings and viability assessments from the PNOC study,” he added.
Under an initial contract signed last year, both parties were to evaluate and potentially develop a wind energy facility within a designated area inside Simlong Energy’s 142-hectare property.
With the amended terms, PNOC will continue to lead the wind resource assessment, geo-spatial studies, mapping, techno-economic analysis and forecasting with the study period extended from 15 to 18 months or Feb. 29, 2028, to allow more comprehensive data gathering and analysis.
AbaCore said the Simlong site formed part of its broader ABA energy hub strategy, which aims to develop energy assets aligned with long-term national demand and sustainability goals.
Batangas was said to have been chosen since it is an ideal location for renewable energy development. The province has emerged as a center for trade logistics, power generation, and port modernization.
AbaCore’s share price rose by 35 centavos to close at P0.36 apiece on Tuesday.