DMCI Power Corp. (DPC) said it has already identified two possible locations for its renewable energy (RE) projects, most likely in hydropower and biomass.
Nestor Dadivas, DPC president, said the final decision will depend on the outcome of feasibility studies being conducted.
“Right now, we have identified one or two areas. But the locations could still change depending on the results of our feasibility studies,” Dadivas said.
Dadivas said the company will be concentrating on developing hydro power plants and biomass facilities.
“We are closely studying hydropower and biomass because we think they have the strongest potential in terms of output reliability and commercial viability among the available RE technologies,” said Dadivas.
The move is part of the company’s decision to expand its energy portfolio to include renewable energy, driven by market conditions and the presence of government incentives.
“Having priority dispatch, government support and a competitive price at a growing but highly competitive power industry makes these RE projects more attractive,” said Dadivas.
DPC currently operates diesel and bunker power plants in Masbate, Palawan and Oriental Mindoro.
The company said another diesel plant is set to operate in Sultan Kudarat by the year-end.
It did not, however, provide more details as on the target capacity and cost of the RE projects.
In terms of capital expenditure, DPC said this is still in the process of deliberation and will be disclosed at the appropriate time.