Filinvest Development Corp. (FDC) Misamis Power Corp, owner-operator of Mindanao’s biggest base load plant, had secured the approval of the Energy Regulatory Commission (ERC) to start commercial operations, the company said Tuesday.
In a statement, FDC Misamis said it had been awarded a certificate of compliance (COC) for the first two units of the its 3 x 135-megawatt circulating fluidized bed (CFB) coal thermal plant in Misamis Oriental after complying with the industry regulator’s requirements.
All generation companies are required to secure the ERC’s clearance before they can commence commercial operations.
The approval for the third unit was expected to be secured as soon as testing and commissioning were completed, as it had undergone provisional acceptance and was already operational, the company added.
Inaugurated by President Duterte last Sept. 22, the power plant has a combined capacity of 405 MW.
It is owned and operated by FDC Misamis, a subsidiary of FDC Utilities Inc. and a member of FDC. The first power plant commissioned under the Duterte administration, FDC Misamis is envisioned to end the recurring power crisis that has afflicted Mindanao for years.
“Our plant will finally put an end to the recurring power crisis that has plagued the region and hopefully drive the much needed economic development in Mindanao,” FDC Misamis president and CEO Mario Pangilinan said.
Since the start of testing, FDC Misamis’ generating plants have been supplying power to customers and other energy players at discounted rates, greatly contributing to the stability of the Mindanao grid.
Long-term contractual commitments have been secured for more than 85 percent of the plant’s net capacity with 18 distribution utilities and industrial customers throughout Mindanao.
FDC, the holding company of the Gotianun-led Filinvest Group, is a conglomerate with interests in property development, banking and financial services, hotel and resort management, power generation and the sugar industry.