By
Lenie Lectura - February 22, 2017
DMCI Power Corp. (DPC) is pouring in
P1.2 billion this year to finance a number of power projects.
DPC President Nestor D. Dadivas said
the amount is meant to augment the power firm’s existing generation capacity
and to implement its scheduled maintenance programs in the provinces of
Masbate, Oriental Mindoro and Palawan.
The company will partly tap local
banks, such as BDO, BPI and PNB, to finance its investment.
“It will be financed via short-term
debt and equity. These are our usual bank partners. We also received an offer
from China Bank,” Dadivas said.
DMCI Power, he said, normally is
able to repay short-term debts in less than two years.
“What we do is when we have
generated enough internal fund, we immediately pay our loan. It normally takes
us one year and three months to be able to pay short-term debts,” he said.
DPC recently purchased a
3×1.23-megawatt (MW) diesel-generating set that will be installed in Mobo,
Masbate. The backup gensets will ensure a steady supply of reliable electricity
in the province during the summer season, when power demand is at its peak.
The gensets will guarantee the
availability of power supply when DPC units undergo scheduled maintenance in
October and November. The units are expected to be operational by the first
week of April.
Following the successful commercial
operation of its Aborlan bunker-fired plant in December 2016, DPC is also
finalizing its plan to construct another bunker-fired power plant in Puerto
Princesa, Palawan. The facility will have a rated capacity of 18.9 MW.
“DPC is committed to providing
sufficient, reliable electricity to our host provinces. We want to aid their
progress so we can continue creating shared value,” Dadivas said. DPC was
established in 2006 to provide sufficient and reliable electricity to areas not
connected to the main transmission grid.
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