NEW BATAAN, Compostela Valley — Renewable energy producer Euro Hydro Power (Asia) Holdings, Inc. (EHPI) has committed to invest about P95 billion in hydroelectric projects in Mindanao in the next five years.
The investments, said EHPI President and Chief Executive Officer Allan B. Uy, will produce 571 megawatts (MW) from 129 rivers that will be tapped.
�(These projects) anchored to address the power supply in Mindanao… will benefit the community, is affordable, reliable and environment-friendly,� said Mr. Uy during the groundbreaking ceremony Tuesday for the company�s 2.4-MW facility here.
EHPI is looking at 242 projects in the country, with about half in Mindanao.
The biggest of those is a 17.8-MW facility that will tap the Bayug River in Iligan City.
Mr. Uy said the company is making full use of the One-stop Shop Facilitation and Monitoring Center set up by Mindanao Development Authority for renewable energy applications to fast-track their planned ventures. The center has so far registered 290 applications for various renewable energy projects with a combined output of 3,000 MW.