Filinvest RE power project OKd
The Gotianun-led Filinvest Group, through its power arm FDC Utilities Inc., is developing a renewable energy (RE) project under subsidiary FDC Renewables Corp., the first of which will be the Pampang hydropower project.
Soon to rise in the municipalities of Santa Fe, Nueva Vizcaya, and San Nicolas, Pangasinan, the 26-megawatt plant was recently granted a certificate of confirmation of commerciality by the Department of Energy.
With the certification, FDC Renewables now has the green light to proceed with the construction of the project until commercial operations, subject to securing necessary permits and licenses from concerned government agencies and local government units.
The project will tap the Pampang River through a run-of-river scheme.
Unlike conventional hydroelectric plants that create large reservoirs that may cause flooding, run-of-river uses the natural flow of the river to generate energy. A low dam across the river is enough to regulate its flow hence considered more eco-friendly.
“Filinvest recognizes the need for the country to develop renewable energy sources to have a balanced energy mix and attain energy security,” FDC Utilities president and CEO Juan Eugenio Roxas said in a statement.
“We have been working on this project for quite a while now and we hope to fast-track its completion,” he added. “Such efforts are in support of the government’s constant drive towards sustainable energy development in the country.” He explained that, with the government’s “Build Build Build” infrastructure initiatives, electricity consumption in the country continues to increase.
“This project, among many others, intends to curb the supply gap we might experience,” Roxas said.
FDC Utilities targets to complete the remaining permitting activities to proceed with project construction before the end of the year. The project is expected to be completed by 2024.
The multibillion peso hydropower project does not only grant communities access to clean and affordable energy but likewise provides an opportunity for host municipalities to future economic gains.
FDC Utilties also has solar, biomass and hydroelectric power projects in the pipeline.
For solar power, the firm entered a joint venture agreement with ENGIE Services Philippines for the incorporation of the Filinvest-ENGIE Renewable Energy Enterprise Inc. to develop large rooftop and utility scale projects in the country.
Meanwhile, its flagship project is located in Northern Mindanao, operated by subsidiary FDC Misamis Power Corp. It is one of the biggest baseload plants in the region with a generating capacity of 405 MW. Since its commercial operations in 2016, the facility has been supplying consumers with stable and cost-effective power. INQ
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