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TUESDAY, 25 SEPTEMBER 2012 19:50 PAUL ANTHONY A. ISLA / REPORTER
THE Agus 3 Hydropower Corp. on Wednesday said the development of the 225-megawatt (MW) Agus 3 hydroelectric power plant is not covered by the privatization policy of the National Power Corp. (Napocor) generating assets.
In a letter to the Joint Congressional Power Commission (JCPC), Agus 3 chairman and chief executive Salvador Zamora II, said the use of the water resource of Lake Lanao and Agus River is regulated in accordance with a water protocol in the respective water permits of the existing Agus hydroelectric power plants.
Agus 3 Hydropower Corp. is a joint venture between Tranzen Group Inc. of Zamora and Lanao Hydropower Development Corp. Tranzen and Lanao own 80 percent and 20 percent of the project, respectively.
“The development of the Agus 3 hydropower plant can proceed independently of the privatization of the Agus hydropower complex with the reforms in the electric power industry and in relation of the Renewable Energy Act of 2008 for acceleration of the exploration and development of renewable energy resource for power generation,” Zamora said.
He said he believes that Agus 3 Hydropower Corp. is entitled to the registration of and renewable energy service contract for the Agus 3 hydropower plant.
Zamora added the immediate implementation of the Agus 3 hydropower will empower the host local government units and their constituencies by way of financial assistance to be derived from their share in the revenues of Agus 3 hydropower plant.
He said the implementation of the Agus 3 hydropower plant will optimize the use of the water of Lake Lanao and Agus River for power generation consistent with the objectives of the Water Code of the Philippines.
Zamora added that the immediate operation of the Agus 3 hydropower plant will reduce importation of fossil fuel and save the country from substantial foreign exchange expenses.
Zamora added the immediate operation of the Agus 3 hydropower plant will contribute to the reduction of carbon and other greenhouse gas emissions to the atmosphere and mitigating the climate change impact of these emissions.
He said the power plant will also displace power generated from using bunker and other fossil fuels, adding that Energy Secretary Jose Rene Almendras advised them that their application was referred to the Power Sector Assets and Liabilities Management Corp. (PSALM) for study of the current situation of the Agus hydropower complex.
Almendras said there is a need to pursue the privatization plan of the Agus hydropower complex to guarantee a level playing field in the industry. The individual awarding of hydropower resources in the area of the Agus complex is not technically feasible due to the cascading nature and hydrologic interdependence of the resource.
To date, the government controls only the six hydro power plants in the Agus complex with a capacity of more than 700 MW. The 80-MW Agus 1 in Marawi City, 180-MW Agus 2 in Lanao del Sur, 158.1-MW Agus 4 in Lanao del Norte, while the 55-MW Agus 5, 200-MW Agus 6 and 54-MW Agus 7 are located in Iligan City.
Almendras earlier said Napocor will need another P2 billion to P3 billion to rehabilitate the power plant to come up with either additional capacity or to optimize the existing generating capacity of the 982-megawatt Agus-Pulangi hydropower complex in Mindanao.
“We need to rehabilitate and fix up what we can in the [Agus-Pulangi] power plant. We’ve even asked Napocor to find a way to bring back the Agus hydropower complex to the 700-MW capacity that it once was,” Almendras said. source
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