The power arm of Gotianun-led Filinvest Development Corp. eyes tripling its capacity by 2033, with more investments expected to fuel its renewable energy expansion.
In a disclosure, FDC Utilities (FDCUI) said it would boost its generating capacity from 411 megawatts (MW) to 1,350 MW in nine years. The bulk, or 71 percent, of the increase would be sourced from renewable energy, it added.
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“We are committed to doing our part in ensuring that our country has a stable supply of energy for both the short and long term. This will support the country’s economic development and build its resiliency against unexpected adverse changes in the supply of energy,” said FDCUI president and chief executive Juan Eugenio Roxas.
FDCUI is now building its first large-scale solar farm in Misamis Oriental with a capacity of 20 MW and a price tag of P500 million.
Coal is still the dominant power contributor in the energy mix, supplying 62 percent of the country’s needs. The government hopes to increase renewable energy’s share to 35 percent by 2030 from the current 22 percent. —Lisbet K. Esmael