Manila Bulletin
By BERNIE CAHILES-MAGKILAT
April 19, 2012, 5:40pm
China Hydro Corp. is planning to put up two renewable energy (RE) power generating plants with total capacity of 250 megawatts with investments of at least $500 million.
The proposed power plants include a 150 MW wind power energy plant and a 100 MW solar power plant. These two plants would be located in Subic Freeport. An insider, however, said the Chinese firm, which has signed a memorandum of agreement to locate its project in Subic during President Aquino's state visit to China, has been exasperated over the refusal of the Department of Energy to approve or grant a supply contract. The Chinese investor wants to supply to the national power grid.
"The Chinese investors are exasperated over the DOE's for not acting on their proposed power projects," the official said. The Chinese power projects have been pending for two years already, the source said.
Based on its website, China Hydro is a fast-growing owner, operator and developer of small hydroelectric power projects in the People's Republic of China where a small hydro is defined as a project under 50 megawatts of capacity.
It aims to become China’s largest independent power producer involved with small hydroelectric projects. Company revenues are derived from the sale of electricity generated by its small hydroelectric projects that supply to China's two main power grids.
Established in 2006, China Hydro initially concentrated on acquiring and consolidating a diversified portfolio of existing, operating projects from other developers and operators. It has acquired some projects, and has begun to develop and construct new projects.
China Hydro has acquired seventeen generating stations and constructed four more. These projects total approximately 493 megawatts of capacity, and are located in four provinces in China: Zhejiang, Fujian, Yunnan and Sichuan.
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