PURE Meridian Hydropower Corp. (PMHC), a joint venture between Manila Electric Co. (Meralco) and Repower Energy Development Corp. (REDC), broke ground on its 10.6-megawatt (MW) hydropower project in Bukidnon. This is Meralco’s first foray in renewable energy (RE) and in run-of-river mini hydropower.
The project, worth P2.7 billion, is expected to generate over 74-gigawatt hours annually from this RE source.
The project in Lumbayao, Valencia City, Bukidnon Province, is expected to start commissioning by the first half of 2019. It will also employ more than 400 people during its construction phase.
Once energized, the power plant will generate millions of pesos in revenues for the local government units as part of its share based on the Renewable Energy Act.
“Our investment in Pulanai Mini Hydro is a manifestation of our firm support for the development of the RE sector. We are also glad to note this initiative will provide the much- needed additional capacity in the Mindanao grid through a stable, clean and reliable energy source,” PMHC Chairman and Meralco Senior Vice President Alfredo Panlilio said.
Meralco is the largest electric-distribution company in the Philippines covering 36 cities and 75 municipalities, including Metro Manila. Its franchise area of over 9,337 kilometers covers the core of the country’s industrial, commercial and population centers, serving more than 6 million customers and with a market capitalization of $7.7 billion as at year-end 2015.
The Pulanai mini-hydropower project is the first of several PMHC’s projects to begin construction.
PMHC said once operational, the Pulanai hydropower plant will be able to supply clean, sustainable, and RE to the Mindanao grid for the next 100 years.
“This will be PMHC’s vanguard project in Mindanao and will serve as a platform to roll out more run-of-river projects in the near future. This is a legacy project we are building for the benefit of the next generations to come,” PMHC President Dexter Y. Tiu said.
REDC was established in 2013 to address the country’s call for additional investments in the RE sector, with the goal of building and operating numerous low impact, run-of-river hydropower plants all over the country.
For REDC, this is its third mini-hydropower groundbreaking for the year, and its first in Mindanao.The company has three operational run-of- river hydropower plants in Laguna that will see its capacities increase more than fourfold by next year.