Semirara plans to build power projects in off-grid areas following DOE request

By Lenie Lectura - November 17, 2016

http://www.businessmirror.com.ph/semirara-plans-to-build-power-projects-in-off-grid-areas-following-doe-request/

CONSUNJI-LED Semirara Mining and Power Corp. (SMPC) said on Thursday it would cooperate with the Department of Energy (DOE), following a request to build more power projects in off-grid areas.

“We’re working on building a power plant in Semirara for Mindoro,” said SMPC Chairman Isidro Consunji, when sought to comment on the DOE’s request. The other day Energy Secretary Alfonso G. Cusi said he was in discussions with SMPC “for them to put up a bigger plant from what they have now.”

“They have 15 megawatts [MW] now serving the island of Semirara, and I asked them if they can put up a bigger plant to serve Romblon, Marinduque and connect it with Mindoro,” Cusi said.

Based on a concept paper, which, Cusi said, the DOE was involved with, a submarine cable will connect these islands so that power will reach these off-grid areas.

Last week SMPC reported P9.56 billon in net earnings at end-September this year, a growth of 54 percent from P6.2 billion recorded a year ago.

Its coal business contributed P3.88 billion, while its power business under Sem-Calaca Power Corp. recorded P2.5 billion. The remaining P3.18 billion came from Southwest Luzon Power Generation Corp.

Consolidated revenue stood at P25.77 billion, an increase of 34 percent from P19.25 billion last year.