BOI approves P26.7 B power projects

By Catherine Talavera (The Philippine Star) | Updated November 18, 2017 - 12:00am

http://www.philstar.com/business/2017/11/18/1759870/boi-approves-p26.7-b-power-projects

MANILA, Philippines — The Board of Investments (BOI) recently approved the application of nine renewable energy projects valued at P26.7 billion.

The newly approved projects qualified for incentives under the Renewable Energy Act No. 9513 which is covered under the Special Laws List of the 2017 Investment Priorities Plan (IPP).

Among the approved projects are the P3.5 billion 15.1 megawatt Siguil hydro power project in Sarangani by Alsons Energy Development Corp. and the P234.5 million 4.7 MW grid-connected PV power generation plant in Valenzuela City by Ecopark Energy of Valenzuela Corp.

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The Siguil hydro power project is a run-of-river type of hydro project located in Barangay Amsipit and Nomoh, in the municipality of Maasim, Sarangani province.

“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,” the BOI said.

In contrast, Ecopark Energy’s 4.7 MW grid-connected PV power generation plant to be set-up in an approximately 4.8 hectare-land located in Bgy. Isla, Valenzuela City will be connected to the grid through Meralco.

“Power will be sold to the Wholesale Electricity Spot Market (WESM),” the BOI said.

Meanwhile, the BOI also approved three projects of Repower Energy Development Corp. such as the construction of a P1.55 billion 6.2 MW Katipunan river mini-hydropower plant in Bukidnon, the P1.1 billion 4.4 MW Tibag River hydroelectric power plant in Quezon province, and the P2.1 billion 10 MW Pulangui IV facility in Bukidnon.

“These three plants will start commercial operations simultaneously in April 2019,” the BOI said.

Ormoc Solar Energy Corp. also received the go signal for two of its projects, particularly the P6.6 billion Naic solar power plant in Cavite--a 100.8 MW plant situated between Naic, Tanza and Trece Martires City-- and the P8.25 billion 126 MW solar facility in Pagbilao, Quezon.

Also approved were two projects of Nuevo Solar Energy Corp.in Laguna such as the P1.7 billion 40.3 MW Lumban solar power project and the P1.7 billion 25.2 MW Bangyas solar plant in Calauan.

Trade Undersecretary and BOI managing head Ceferino Rodolfo said the 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.

“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,” Rodolfo said.

“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,” he added.

Based on the Department of Energy’s renewable energy roadmap 2017-2040, the country expects to have at least 20,000 MW of RE installed by 2040.

 As of the end of June, RE plants supplied 7,038 MW of installed capacity in the country, or 32.5 percent of the national output of 21,621 MW.

 Among RE plants, hydro power is the biggest supplier with 3,637 MW of installed capacity, accounting for more than half (51.7 percent) of the total capacity. Geothermal came in second with 1,906 MW, followed by Solar (843 MW), Wind (427 MW) and Biomass (224 MW).