STATE-RUN PNOC Renewables Corp. (PNOC-RC) is looking for possible private partners for the development of its three mini hydro projects.
PNOC RC, a wholly owned subsidiary of state-run Philippine National Oil Co. (PNOC), said the three projects that are up for joint-venture biddings include the Pacuan-Guinobaan Hydropower, Saltan B Hydropower and Dulangan Hydropower.
Carlos Jose Gatmaitan, president and CEO of PNOC-RC, said that under the joint-venture deal, the private partner will shoulder all the expenses for the development of the mini-hydro plants.
“Actually in this case, we will have no equity,” he told reporters.
PNOC RC is set to open the bids for the said projects on June 22 and it is expected to award the project on July 6, 2015.
The Department of Energy (DOE) has already awarded PNOC RC the service contract for the Saltan B hydroelectric power project in Balbalan, Kalinga which has a potential capacity of 24 megawatts (MW).
The Dulangan hydroelectric power project is located in Baco, Oriental Mindoro with a potential capacity of 18 MW, while the Pacuan -Guinobaan hydroelectric power project is located in La Libertad, Negros Oriental with a potential capacity of 33 MW.
Gatmaitan said that apart from the three mini-hydro power plants, there are two more projects that are in the pipeline.
These include the Siaton hydroelectric power project with a target capacity of 5.4 MW and the Okoy hydroelectric power project with a target capacity of 11 MW, both in Negros Oriental.