Razon projects get priority status
MANILA, Philippines — The Department of Energy (DOE) classified two multibillion-dollar hydropower projects of Razon-led Prime Infrastructure Capital Inc. in Laguna and Rizal provinces as strategically important energy forays, entitling them to faster permitting processes and development.
Prime Infra said the $5.03-billion Pakil Pumped Storage Power Project in Laguna and the $2.57-billion Wawa Pumped Storage Power Project in Rizal had received the “energy project of national significance” (EPNS) certificate from the DOE.
The EPNS certification is expected to fast-track the issuance of permits and clearances required by different government agencies for energy projects.
“These are critical projects, essential to enable the energy transition and to enhance grid security through flexible energy generation,” Prime Infra president and CEO Guillaume Lucci said in a statement on Wednesday.
Both hydropower projects will commence commercial operations by 2030 and already obtained the “green lane” endorsement from the Department of Trade and Industry, meaning the approval and registration process will be accelerated for priority or strategic investments.
Significant player in the energy landscape
Through subsidiary Ahunan Power Inc., Prime Infra is building the Pakil Pumped Storage Power Project. The planned facility, with a storage capacity of 14,000 megawatt-hours (MWh) per day and a generating output capacity of 1,400 megawatts (MW), is “expected to be among the largest pumped storage power plants in Asia once completed.”
Article continues after this advertisementREAD: Razon sets war chest for energy, water deals
Article continues after this advertisementAnother Prime Infra unit, Olympia Violago Water Power Inc., Prime Infra is constructing the Wawa Pumped Storage Power Project, which will have a storage capacity of 6,000 MWh a day and an output of 600 MW. It aims to provide ancillary energy supply and energy storage requirements.
“It stands as a significant player in the energy landscape by enabling the continued dispatch of variable renewable energy as it stores excess capacity when there’s an oversupply, and dispatching the same when the supply goes back down,” Prime Infra said.
Issued in 2017, Executive Order No. 30 states that an energy project is nationally significant if it has a capital investment of at least P3.5 billion and will contribute to the country’s economic development. Aside from the economic impact, the project should have a contribution to the country’s balance of payment, impact on the environment, complex technical processes and/or engineering designs, and infrastructure requirements.
