Belisama Hydropower Corp., a company led by businessman Gregorio Araneta III, plans to build a P41-billion 800-megawatt pumped storage hydropower project in Laguna province.
BHC said in a draft environmental impact report submitted to the Department of Environment and Natural Resources the project would occupy five barangays in the municipalities of Pakil and Pangil.
“The proposed hydropower facility as a renewable energy resource is seen to augment power supply and contribute to energy security in the country. In addition, the project is consistent with the strategy directions of the Philippine Development Plan and the Power Development Plan,” BHC said.
The company said it selected pumped-storage hydropower because it is the only available with mature technology to store large-scale energy.
“Similar to storage hydropower plants, the pumped-storage technology usually generates electricity during peak demand hours,” BHC said.
“The major benefit of utilizing a pumped-storage facility is that only a minimal amount of water [closed cycle] is required during operation. Water losses due to evaporation, leakage, or seepage will be provided by rainfall or additional pumped water from Laguna de Bay,” it said.
BHC said the project would only use about 0.5 percent of the lake volume.
It said the project also supports the Department of Energy’s target to bring to 35 percent the share of renewable energy in the generation mix by 2030.
BHC owns Hydropower Service Contract No. 2016-07-673 issued on Nov 22, 2016 and executed between the company and the DOE.
The service contract granted BHC the exclusive right to explore, develop and utilize hydropower resources within the contract area along the Laguna de Bay.