FDC gets ERC nod to operate Mindanao’s biggest base load plant
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FDC Misamis Power Corporation (FDC Misamis), owner-operator of Mindanao’s biggest base load plant, has secured the green light from the Energy Regulatory Commission (ERC) to start commercial operations.
After complying with ERC’s financial, technical and environmental requirements, FDC Misamis was awarded a Certificate of Compliance (COC) for the first two units of the company’s 3 x 135 MW Circulating Fluidized Bed (CFB) Coal Thermal Plant in Misamis Oriental.
Per ERC guidelines, all generation companies are required to secure COCs before they can commence commercial operations. COC for the third unit is expected to be secured as soon as testing and commissioning are completed. It has undergone provisional acceptance and is operational.
Inaugurated by President Rodrigo R. Duterte on 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 the Filinvest Development Corporation (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 decades.
“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 in a statement issued Tuesday.
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.
Located in the PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental, the power plant is a multi-billion peso investment that uses the latest in clean coal technology: the circulating fluidized bed (CFB) boiler technology. Considered as the cleanest process of burning coal, the technology is also known for having higher steam generator efficiency, thus lowering carbon emissions.
FDC, the holding company of the Gotianun-led Filinvest Group, is one of the Philippines’ leading conglomerates with interests in property development, banking and financial services, hotel and resort management, power generation and the sugar industry. As of June 30, 2016, FDC had assets valued at Php 448.56 billion with stockholders’ equity at Php100.54 billion.
