Camarines Sur: A power developers’ consortium has launched a 1.5-megawatt (MW) mini hydropower plant in the municipality of Goa, aiming to provide cheaper and accessible energy supply to the community.
The CamSur-based Rangas hydropower plant project is set to produce 10 gigawatt hours of energy annually, allowing the franchise area of Camarines Sur IV Electric Cooperative (Casureco IV) to gain direct access to clean, sustainable energy.
The hydropower plant will also mean savings for Casureco IV as it will purchase power directly from the consortium at a reduced rate of P5.75/kwh, compared with the government regulated Feed in Tariff (FIT) rate of P5.90/kwh.
Set up by the consortium composed of Mega Renewable Power Development, Viscal Development Corp., Brightvale Ventures, Greentech Asia, Ormin Power and Repower Energy Development Corp. (REDC), the plant is scheduled for completion in 2018.
“As it is, with Repower’s mission to address the power outages around the country by supplying renewable energy, we have committed to reinvest part of our profit from the 1.5 MW Rangas mini hydropower plant back to the said electric cooperative. With this, Casureco IV can improve the services it provides to its consumers,” REDC Chief Executive Dexter Y. Tiu said.
Casureco IV is officially registered and categorized by the National Electrification Administration as a large electric cooperative that provides power to nine municipalities with 258 barangays in Camarines Sur’s fourth district.