Total investments seen hitting $1B
MANILA, Philippines—Belgium-based renewable energy developer Enfinity Philippines also has five other proposed projects, which have a combined capacity of 10 MW, to be located at Libjo, Surigao del Norte; Poro, Cebu; Casiguran, Aurora; Burdeos, Quezon; and San Fernando, Romblon.
Based on the applications they submitted to the DOE, Enfinity Philippines is also looking at several prospective solar areas for their power projects, including Tawi-tawi; Palawan; Calamansig, Sultan Kudarat; Sacol Island; Barangay (village) Matti, Digos, Davao del Sur; Victoria, Tarlac; Conception, Tarlac; and the Mactan Economic Zone. The company has yet to announce more specific details for these particular projects.
Enfinity earlier announced during a signing ceremony held at the Board of Investments that it targeted to invest some $1 billion to complete a 500-MW power portfolio in the country. These investments are expected to be poured in within the next three to five years.
The company has signed agreements with electric cooperatives such as Davao del Sur Electric Cooperative Inc. (Dasureco), Zamboanga Electric Cooperative Inc. (Zamcelco) and Tarlac Electric Cooperative Inc. II (Tarelco II), as well as with the various economic zones in the country for its planned investments.
It has also forged an agreement with state-run National Power Corp. for the establishment of solar-power projects in off-grid areas in Romblon, Palawan and Quezon.
Based on earlier discussions, Napocor president Froilan A. Tampinco had said that Enfinity was considering putting up a total of 10 MW of solar-power capacity in Napocor’s Small Power Utilities Group areas. This capacity, however, could go as high as 20 MW to take advantage of economies of scale, he added.
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