By Danessa O. Rivera (The
Philippine Star) | Updated November 2, 2015 - 12:00am
MANILA, Philippines - Filipino-owned
renewable energy firm United Holdings Power Corp. (UHPC) is planning to expand
the Bukidnon hydropower project to help ease the power shortage in Mindanao.
The firm is looking at a
15.7-megawatt (MW) expansion of the 8.4-MW Upper Maladugao hydropower plant
UHPC president Dominic Sytin said.
The expansion project called the
Lower Maladugao hydropower plant will be under a separate subsidiary, Bukidnon
Maladugao Hydro Power Corp.
Sytin said the detailed engineering
design (DED) for this expansion project will be completed by the first half of
November.
The DED is necessary to attain
financial closure and commence bidding for the EPC contract, he noted.
For the initial hydropower project,
UHPC is spending P1.2 billion for the 8.4-MW facility under UHPC Bukidnon Hydro
Power I Corp., which will be financed through 30 percent equity and 70 percent
debt from BDO Unibank Inc.
The firm targets to start
construction in the first quarter of 2016, after completing the bidding process
for engineering, procurement and construction and electro-mechanical equipment.
The Upper and Lower cascading
mini-hydro project will tap the Maladugao River in Lampanusan, Kalilangan,
Bukidnon.
The service contract for the hydro
project was awarded by the Department of Energy last March.
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