Consunji-led Semirara Mining and Power Corp. on Monday signed a Memorandum of Understanding (MOU) with the Department of Energy to develop a mine-mouth power plant in Antique.
During the signing ceremony in Bonifacio Global City, Energy Secretary Alfonso Cusi said Semirara Mw would be building a 50-megawatt plant.
National Transmission Corp. (TransCo) will take charge of constructing transmission lines that will distribute the electricity.
Cusi said the facility would provide reliable, secure and much more affordable power to Occidental and Oriental Mindoro, Marinduque and Romblon, and Palawan.
The project, targeted to be completed in 2019, will supply electricity to Mindoro via a 20-kilometer submarine cable.
The Energy Department will classify the undertaking as an Energy Project of National Significance (EPNS), as stated under the Executive Order 30 signed by President Rodrigo Duterte in June.
It will be included in the Philippine Energy Plan and Power Development Plan that are updated yearly.