Gotianun-led FDC Misamis Power Corporation (FDC Misamis), owner-operator of Mindanao’s biggest base load plant, has secured the green light from the Energy Regulatory Commission (ERC) to start commercial operations.
After complying with ERC’s financial, technical and environmental requirements, FDC Misamis was awarded a Certificate of Compliance (COC) for the first two units of the its 3 x 135 MW Circulating Fluidized Bed (CFB) Coal Thermal Plant in Misamis Oriental.
ERC guidelines state that all generation companies are required to secure COCs before they can start commercial operations. The company expects to secure the COC for the third unit as soon as testing and commissioning are completed. It has undergone provisional acceptance and is now operational.
Last September 22, President Rodrigo R. Duterte inaugurated the power plant which has a combined capacity of 405 MW. It is owned and operated by FDC Misamis, a subsidiary of FDC Utilities, Inc. and a member of the Filinvest Development Corporation (FDC). It is the first power plant commissioned under the Duterte administration. FDC Misamis is envisioned to end the recurring power crisis that has afflicted Mindanao for decades.
“Our plant will finally put an end to the recurring power crisis that has plagued the region and hopefully drive the much needed economic development in Mindanao,” FDC Misamis President and CEO Mario Pangilinan said in a statement on Tuesday.
Since the start of testing, FDC Misamis’ generating plants have been supplying power to customers and other energy players at discounted rates, greatly contributing to the Mindanao grid’s stability.
Long term contractual commitments have been secured for more than 85 percent of the plant’s net capacity with 18 distribution utilities and industrial customers throughout Mindanao.
Located in the PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental, the power plant is a multi-billion peso investment that uses the latest in clean coal technology: the circulating fluidized bed (CFB) boiler.
Considered as the cleanest process of burning coal, the technology is also known for having higher steam generator efficiency thus lowering carbon emissions.
FDC, the holding company of Filinvest Group, is one of the Philippines’ leading conglomerates with interests in property development, banking and financial services, hotel and resort management, power generation and the sugar industry. As of June 30, 2016, FDC has assets valued at P448.56 billion with stockholders’ equity at P100.54 billion.