PNOC-RENEWABLES CORP. plans to invest as much as P25.9 billion for 11 hydropower projects in Luzon and the Visayas, after the Department of Energy granted service contracts to the state-run firm.
These projects are expected to generate a combined 276.2 megawatts (MW) of capacity, data from the DOE showed.
Since these projects are capital-intensive, and would thus require substantial investments, PNOC-RC president Pedro Maniego Jr. said the company is currently seeking local and foreign investors for possible joint ventures or partnerships.
“Definitely, we will take on partners, either local or foreign. Although we initiate the projects, we are a government corporation. The government actually encourages private initiative, so we will also welcome investors from the private sector,” Maniego said.
He explained that the costs of these proposed projects were too high to be shouldered solely by the state-run firm. Already, several companies have indicated their interest to partner with PNOC-RC, he added.
PNOC-RC’s projects in Negros Oriental include the Pacuan-Guinoba hydroelectric power (HEP) project in La Libertad, which is projected to generate some 33 MW in additional capacity for the island; Okoy HEP in Valencia with 11 MW; Siaton HEP in Siaton, 5.4 MW; and Sicopong HEP in Sta. Catalina, 45 MW.
The company also has the Jalaur HEP in Calinog, Iloilo, which is expected to produce 17.8 MW of hydropower; Dulangan hydropower (HP) project in Baco, Oriental Mindoro, which would have an 18-MW capacity.
It meanwhile has five more projects in Luzon namely, the Saltan B HP in Balbalan, with a 24-MW capacity; Pasil B HP in Pasil, 20 MW; and Pasil C HP, 22 MW, all of which are located in Kalinga; the Natalang B HP in Kabayan, Benguet, with an estimated 45 MW capacity; and the Abuan HP in Ilagan, Isabela, 60 MW.
PNOC-RC, the wholly owned subsidiary of state-owned Philippine National Oil Co., was put up to serve as the government’s vehicle for implementing renewable energy projects such as solar, hydro, wind and geothermal power plants.
It is mandated to promote and undertake research, development, utilization and commercialization of new, renewable, nonconventional energy sources. Such renewable energy projects are expected to help the country achieve a 60-percent self-sufficiency level in power generation.
