| By Donnabelle L. Gatdula (The Philippine Star) Updated March 11, 2011 12:00 AM |
MANILA, Philippines – First Gen Corp., the power generation arm of the Lopez Group, will build a dam and a hydropower plant in Nueva Ecija, a top company official said.
First Gen chairman Federico Lopez said First Gen Luzon Power Corp. recently signed a memorandum of agreement (MOA) for the development of the proposed Balin-tingon Reservoir Multi-Purpose Project.
First Gen Luzon is a wholly-owned subsidiary of the Lopez-owned First Gen, which has a track record of leadership and pioneering ventures in the use of clean and indigenous fuels such as natural gas, hydro and geothermal energy through its major operating assets Energy Development Corp. and the First Gas group of companies.
The agreement was entered into by First Gen Luzon, province of Nueva Ecija and the municipality of Gen. Tinio.
Lopez said the project will involve the development, construction and operation of a new hydro reservoir and a new hydroelectric power plant in Gen. Tinio, for power generation, irrigation and domestic water supply.
But the company has yet to finalize investment details for the project, including the costs, since the project is still in the pre-feasibility stage.”
Recently, the Department of Energy has given due course to the application for hydropower service contract filed by First Gen Luzon for the Balintingon project, pursuant to Republic Act 9513 or the Renewable Energy Act of 2008.
RA 9513 was enacted into law primarily to accelerate and promote the exploitation and development of renewable energy sources, increase the utilization of renewable energy, encourage the renewable energy resources to prevent or reduce harmful emissions, and establish the necessary structures and mechanisms.
Lopez said the project will not only further diversify the group’s operations in power generation but will also help the government in its effort to develop sources of water supply in the country.
“We have taken keen interest in this project because of its potentially far-reaching contributions to the development not only of Nueva Ecija and Gen. Tinio, but of the entire country,” he said.
According to Lopez, once completed, this project is envisioned to provide year-round irrigation to an additional 15,000 hectares and livelihood to more than 9,000 farm families and fisherfolks.
The project will also generate additional megawatts of much needed power in the Luzon grid, and a solution to the seasonality of bulk water supply to as far as the National Capital Region.
For his part, Nueva Ecija Gov. Aurelio Umali hailed the partnership as a model that should be replicated on a national scale, where private investors that possess the required financial and technical capabilities and track record can be tapped to undertake massive infrastructure projects without having to draw from government resources.
First Gen chairman Federico Lopez said First Gen Luzon Power Corp. recently signed a memorandum of agreement (MOA) for the development of the proposed Balin-tingon Reservoir Multi-Purpose Project.
First Gen Luzon is a wholly-owned subsidiary of the Lopez-owned First Gen, which has a track record of leadership and pioneering ventures in the use of clean and indigenous fuels such as natural gas, hydro and geothermal energy through its major operating assets Energy Development Corp. and the First Gas group of companies.
The agreement was entered into by First Gen Luzon, province of Nueva Ecija and the municipality of Gen. Tinio.
Lopez said the project will involve the development, construction and operation of a new hydro reservoir and a new hydroelectric power plant in Gen. Tinio, for power generation, irrigation and domestic water supply.
But the company has yet to finalize investment details for the project, including the costs, since the project is still in the pre-feasibility stage.”
Recently, the Department of Energy has given due course to the application for hydropower service contract filed by First Gen Luzon for the Balintingon project, pursuant to Republic Act 9513 or the Renewable Energy Act of 2008.
RA 9513 was enacted into law primarily to accelerate and promote the exploitation and development of renewable energy sources, increase the utilization of renewable energy, encourage the renewable energy resources to prevent or reduce harmful emissions, and establish the necessary structures and mechanisms.
Lopez said the project will not only further diversify the group’s operations in power generation but will also help the government in its effort to develop sources of water supply in the country.
“We have taken keen interest in this project because of its potentially far-reaching contributions to the development not only of Nueva Ecija and Gen. Tinio, but of the entire country,” he said.
According to Lopez, once completed, this project is envisioned to provide year-round irrigation to an additional 15,000 hectares and livelihood to more than 9,000 farm families and fisherfolks.
The project will also generate additional megawatts of much needed power in the Luzon grid, and a solution to the seasonality of bulk water supply to as far as the National Capital Region.
For his part, Nueva Ecija Gov. Aurelio Umali hailed the partnership as a model that should be replicated on a national scale, where private investors that possess the required financial and technical capabilities and track record can be tapped to undertake massive infrastructure projects without having to draw from government resources.
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