Off-grid energy producer DMCI Power Corp. will build a 3 x 6.3-megawatt bunker fuel-fired power plant in Irawan, Puerto Princesa City upon the request of the Palawan Electric Cooperative (Paleco), the company said on Monday.
In a disclosure to the Philippine Stock Exchange, DMCI Power said it would invest around P900 million to complete the facility, which is expected to operate in 2017.
In its board resolution dated Aug. 6, 2016, Paleco asked DMCI Power to replace its existing high speed diesel generator sets with a more reliable bunker-fired plant to help reduce power interruptions in the main grid of Palawan.
-“We believe that this is a good investment because of the benefits it will bring to the people of Palawan,” DMCI Power president Nestor Dadivas said in the company’s statement. “With a more stable power supply, Paleco can support more businesses and economic activity in the area.”
DMCI Power recommended the installation of the generating sets in Puerto Princesa City, which serves as the load center of Paleco.
“We are committed to addressing the energy needs of Paleco, and will do everything we can to provide them with sufficient, reliable electricity,” Dadivas added.
DMCI Power is a subsidiary of publicly listed DMCI Holdings, which is controlled by the Consunji family.