First Gen to build multipurpose dam
MANILA, Philippines—Power firm First Gen Corp., through a wholly owned subsidiary, is putting up a multipurpose dam and hydroelectric power plant in Nueva Ecija, marking the Lopez family’s foray into the bulk water supply business.
In a disclosure to the Philippine Stock Exchange, First Gen said its subsidiary, First Gen Luzon Power Corp., signed a memorandum of agreement with the province of Nueva Ecija and the municipality of General Tinio for the proposed development of the Balintingon Reservoir Multi-Purpose Project.
According to First Gen, the project will involve the development, construction and operation of a new reservoir and a new hydroelectric power plant in General Tinio, Nueva Ecija, for purposes of power generation, irrigation and domestic water supply.
The Lopez group did not disclose the details of the project as it has yet to complete the pre-feasibility study to determine the capacity of the planned power facility and the volume of domestic water that will be supplied to Metro Manila.
“We have taken interest in this project because of its potentially far-reaching contributions to the development not only of Nueva Ecija and General Tinio, but of the entire country. Once completed, this project is envisioned to provide year-round irrigation to additional 15,000 hectares (of farm land) and livelihood to more than 9,000 farm families and fisherfolk,” said First Gen Luzon chairman and CEO Federico R. Lopez.
“The project will also generate additional megawatts of much-needed power in the Luzon grid, and a solution to the seasonality of bulk water supply to as far as the National Capital Region,” Lopez added.
Nueva Ecija Governor Aurelio Umali hailed the partnership as a model that should be replicated on a national scale, where private investors that possess the required financial and technical capabilities and track record could be tapped to undertake massive infrastructure projects without having to draw from government resources.
In the meantime, General Tinio Mayor Virgilio Bote expressed confidence that the realization of the Balintingon project would not only uplift the social and economic status of the residents of General Tinio, but also enable the town’s untapped hydro resources to contribute to the power generation, irrigation and domestic water requirements of Nueva Ecija, the neighboring province of Bulacan and Metro Manila.
The planned power project has already been granted a hydropower (renewable energy) service contract by the Department of Energy.
