Araneta firm plans P41-B Laguna hydro plant

Belisama Hydropower Corp. (BHC) of businessman Gregorio Araneta III will build a P41-billion pumped-storage hydropower facility in Laguna, company filings with the government revealed.

In a filing with the Department of Environment and Natural Resources’ Environmental Management Bureau, BHC said the planned power project, with a capacity of 800 megawatts, will rise in the municipalities of Pakil and Pangil.

Situated along the northwestern part of the Laguna Lake, the pumped-storage hydropower facility “is seen to augment power supply and contribute to energy security in the country.”

“The proposed [project] in general is envisioned to augment power supply and contribute to energy security in the country as a renewable energy resource consistent with the strategy directions under the Philippine Development Plan and the Power Development Plan,” it said.

The Philippine Development Plan 2017-2022 outlines the government’s key strategies to support socioeconomic development in the Philippines. Meanwhile, the Power Development Plan 2016-2040 serves as a comprehensive guide for industry stakeholders about the country’s energy sector.

It is also expected to contribute to the government’s aspiration of increasing renewable energy sources in the country.

BHC said the proposed project, expected to be completed in approximately 53 months, will generate average energy of 1,523 gigawatt hours annually.

The entity said it is in the process of negotiating the lease over the properties forming part of the project site.