Politics

Filinvest subsidiary plans to boost capacity of Mindanao solar project

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FILINVEST Development Corp. (FDC), through its subsidiary, has announced plans to increase the capacity of its solar project in Misamis Oriental to 19.78 megawatts (MW) from the initial 11.5 MW following feasibility studies.

FDC Green Energy Corp. (FDCGEC), a wholly owned subsidiary of FDC Utilities, Inc. (FDCUI), has identified ways to maximize the output of the solar project, Filinvest said in an e-mailed statement on Sunday. FDCGEC has secured a 25-year solar energy operating contract from the Department of Energy (DoE).

“We are excited to share the positive outcome of our feasibility studies, which have paved the way for the expansion of our first solar power project in Mindanao,” said Juan Eugenio L. Roxas, president and chief executive officer of FDCUI, the utility arm of FDC.

The solar project, situated at the Philippine Veterans Investment Development Corp. (Phividec) Industrial Estate in Misamis Oriental, involves the installation of over 34,000 monocrystalline solar panels, capable of supplying 30,450 megawatt-hours of energy annually to the grid.

The Phividec Industrial Estate is the largest industrial estate for light industries in the country, managed by the Phividec Industrial Authority, a government-owned and controlled corporation.

FDCGEC has expanded its land lease agreement with the Phividec Industrial Estate, adding 7.2 hectares of land to the existing 11.65 hectares allotted for the project.

The company said that the solar project can prevent more than 21,000 tons of carbon dioxide annually upon completion, “which will help PHIVIDEC locators reduce the environmental impact of industrial operations while utilizing a sustainable and cost-effective energy solution.”

FDCGEC has secured necessary permits and is undergoing a system impact study by the National Grid Corporation of the Philippines to assess the potential impact of adding energy sources to the grid. — Sheldeen Joy Talavera