The Board of Investments approved nine renewable energy projects with a combined cost of P26.7 billion after qualifying for incentives under the Renewable Energy Act and the special laws list of the 2017 Investment Priorities Plan.
“Production of renewable power is becoming cheaper and it is fast becoming a better alternative towards addressing power-sufficiency and cost-effectiveness in the economic development of our country,” said Trade Undersecretary and BoI managing head Ceferino Rodolfo.
“In other parts of the world, renewables like solar are already cheaper than fossil-fuel based power and these countries are already transitioning to a 100-percent renewable electricity. Sooner or later, we have to face this inevitability with the expectation it will bring down power costs while ensuring enough power supply for the country,” Rodolfo said.
One of the approved projects was the P3.5-billion hydropower plant of Alsons Energy Development Corp.
Located in Barangay Amsipit and Nomoh, in the municipality of Maasim, Saranggani province, the Siguil Hydro Power project will produce 15.1 megawatts of electricity when it starts commercial operations in August 2020. It will employ 20 personnel to man operations.
The system aims to capture the flow of Siguil River from Barangay Nomoh to Barangay Amsipit through a power station equipped with a turbine and generator. The water will be returned to the Siguil River and be discharged finally to Sarangani Bay.
Ecopark Energy of Valenzuela, meanwhile, is building a P234.5 million, 4.7-MW grid-connected PV power generation plant solar plant in Valenzuela City. The plant will sit on a 4.8 hectare-land in Barangay Isla, Valenzuela City where the PV power station will be connected to the grid through power retailer Manila Electric Co. Power generated will be sold to the Wholesale Electricity Spot Market (WESM). The plant is tapping nine personnel when operations start in April 2018.
Repower Energy Development Corp. is constructing the P1.55-billion, 6.2-MW Katipunan River Mini-hydropower plant in Bukidnon and two additional hydropower plants.