DMCI Power Corp. (DPC), the off-grid electricity supplier of DMCI Holdings Inc., wants to venture into renewable energy (RE), particularly hydropower and biomass.
“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,” DPC President Nestor D. Dadivas said in a statement.
At present, DPC has diesel and bunker power plants in its portfolio, located in Masbate, Palawan and Oriental Mindoro. Another diesel plant in Sultan Kudarat is expected to go online by year-end.
The company said it is in the initial stage of identifying locations for the renewable energy projects.
“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.
The Consunji-led power firm said favorable market conditions and attractive government incentives prompted the group to extend to renewable energy.
“Having priority dispatch, government support and a competitive price at a growing but highly competitive power industry makes these RE projects more attractive,” Dadivas said.
In the first nine months, DPC saw its net income soar by 62 percent to P305 million from P188 million last year on higher electricity sales in Oriental Mindoro, Masbate and Palawan that accounted for significant growth in the company’s financials.
Aside from DPC, the Consunji group through DMCI Holdings has other energy ventures via Semirara Power and Mining Corp.
DMCI Holdings is a listed conglomerate led by the Consunji family, covering the group’s businesses, mainly in real estate and construction (DMCI Homes, D.M. Consuji Inc. and DMCI Project Developers Inc.), power generation and mining (Semirara, DPC and DMCI Mining), and water utilities in partnership with Manny Pangilinan’s Metro Pacific Investments Corp. (Maynilad Water Services Inc).