MANILA, Philippines—The Board of Investments has granted various fiscal and non-fiscal perks to the Lopezes’ FG Bukidnon Power Corp. for its P106-million, 1.6-megawatt (MW) hydropower facility.
The incentives were given according to the provisions of RA 9513, or the Renewable Energy Act of 2008.
The power facility, located in Manolo Fortich town, occupies a 13,959-hectare property. Its main diversion dam is located 5.5 kilometers from the forebay passing through the waterway canal.
The forebay spans 2.83 hectares, with a storage capacity of 40,000 cubic meters.
As fuel, the run-of-river generation facility will use flowing water from the Agusan River.
The plant is composed of two generating units with a capacity of 800 kilowatts each.
“This will ensure a stable supply of electricity within the underlying areas and a welcome relief for the environment in lieu of the usual coal-fired plants,” Trade Secretary Gregory Domingo said in a statement issued on Thursday.
Cagayan Electric Power and Light Co. gets all of the plant’s output until May 28, 2025 when its offtake agreement with FGBPC ends.
The plant started commercial operations on Oct. 14, 2005, following its official turnover to FGBPC by the Power Sector and Assets and Liabilities Management Corp. last March 29, 2005.
The BOI also approved the registration of mass housing projects being put up by SM Development Corp., Aboitiz Land Inc. and Filinvest Land Inc.
The incentives were given according to the provisions of RA 9513, or the Renewable Energy Act of 2008.
The power facility, located in Manolo Fortich town, occupies a 13,959-hectare property. Its main diversion dam is located 5.5 kilometers from the forebay passing through the waterway canal.
The forebay spans 2.83 hectares, with a storage capacity of 40,000 cubic meters.
As fuel, the run-of-river generation facility will use flowing water from the Agusan River.
The plant is composed of two generating units with a capacity of 800 kilowatts each.
“This will ensure a stable supply of electricity within the underlying areas and a welcome relief for the environment in lieu of the usual coal-fired plants,” Trade Secretary Gregory Domingo said in a statement issued on Thursday.
Cagayan Electric Power and Light Co. gets all of the plant’s output until May 28, 2025 when its offtake agreement with FGBPC ends.
The plant started commercial operations on Oct. 14, 2005, following its official turnover to FGBPC by the Power Sector and Assets and Liabilities Management Corp. last March 29, 2005.
The BOI also approved the registration of mass housing projects being put up by SM Development Corp., Aboitiz Land Inc. and Filinvest Land Inc.
No comments:
Post a Comment