Business Mirror
by Lenie Lectura - December 8, 2014
UNITED Holdings Power Corp. revealed plans to venture into wind and solar power projects via joint venture with other developers of renewable energy (RE).
“We are actively looking at other ventures in RE. We are willing to invest in existing service contracts. Either we buy them out or take in a stake but we have to conduct due diligence first,” United Holdings President Dominic Sytin said.
United Power is developing a 15-megawatt (MW) hydropower plant in Bukidnon. It has already secured the nod of the Department of Energy (DOE) on this.
In particular, United Power is interested at developing 20-MW to 30-MW wind-power projects, 40 MW to 50 MW in solar projects, and an additional 20 MW in hydropower projects. United Power’s 15-MW Upper and Lower cascading mini-hydro project will utilize the Maladugao River in Lampanusan, Kalilangan, Bukidnon. The start of construction is expected next year.
The project will generate 100 gigawatt-hours of additional energy to augment/help ease the power shortage in Mindanao by the second quarter of 2017.
Sytin earlier said the company is supporting the DOE’s Power Development Plan & Philippine Energy Plan, which aims to increase the Philippines’s self-sufficiency in energy using environment-friendly, cleaner fuels by firming up the entry of renewable-energy capacities.
“Hydropower is clean, promotes a low-carbon economy and very sustainable. With proper operations and maintenance, some hydro plants in the Philippines are still running and producing power since they were commissioned before World War II, in 1936. And, when you talk about hydropower plants, where else would you build it in Mindanao but Bukidnon, touted as the “Watershed of Mindanao,” Sytin said. source
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