Renewable energy firm investing P95B for hydro plants in Mindanao

NEW BATAAN, Compostela Valley (MindaNews / 8 July) – Renewable energy company Euro Hydro Power (Asia) Holdings Inc. (EPHI) is investing P95 billion for the establishment of hydro power projects in Mindanao.

Alan Uy, president and chief executive officer of the company, said Tuesday during the ground breaking ceremony of its New Bataan mini hydro plant that these projects will have combined capacity of 571 megawatts. The plants, he added, are expected to be set up in the next five years.

This, he said, developed after noting the need to augment the power supply in Mindanao. To pursue its plans, EPHI will tap 129 rivers in the island.

“Five years ago, we dreamed to come up with a project that will benefit the community that is affordable, reliable and environment-friendly project anchored in the problem to address the power supply in Mindanao,” he said.

The first to be constructed was its P490-million mini hydro plant in New Bataan, which has a capacity of 2.4 MW.

The company’s priority sites, at present, are New Bataan, Compostela Valley; Ruparan, Digos City, Davao del Sur; Marbel, South Cotabato; Sawaga, Malaybalay City, Bukidnon; Bayug, Iligan City; Lake Sebu, South Cotabato; Alamada, North Cotabato; Titunod, Lanao del Norte; and Polandoc, Zamboanga del Norte.

The biggest so far is its planned hydro plant in Bayug with capacity of 17.80 MW. The company also bared interest to establish hydro power plants in 29 sites in Davao Oriental.

EPHI was assisted by the government-led One Stop Shop Facilitation and Monitoring Center.

Undersecretary Janet Lopoz, executive director of Mindanao Development Authority, said this is anchored on their goal to have balanced energy mix in the island. Of the 242 pending hydro power projects assisted by the center, 129 will be set up by EPHI.

“The center will continue to assist renewable energy companies like Euro Hydro,” she said.

EPHI, a subsidiary of Indophil Asia Equities Inc., intends “to be the leading provider of hydro power technology that would generate environment-friendly, economical and renewable energy for every household within the circle of developing countries in Europe and Asia Pacific,” as cited on its website.

Source: https://www.mindanews.com/top-stories/2015/07/renewable-energy-firm-investing-p95b-for-hydro-plants-in-mindanao