UNITED Holdings Power Corp. (UHPC) is mulling adding other sources of renewable energy such as wind and solar to its current portfolio.
Dominic Sytin, president of UHPC, said the company is studying diversifying to wind and solar power projects, adding that they are always “active” in searching for renewable energy opportunities.
“We are looking at other prospects in solar and wind, whatever is viable,” Sytin told reporters on Monday.
In diversifying, he said they will need to acquire service contracts or to partner with other renewable energy developers.
“We are willing to invest in existing service contracts. But we have to conduct due diligence first,” he added.
He said the company is open to taking a majority stake in the service contracts they are interested in acquiring or forging partnerships with.
Among the projects that UHPC is planning to undertake are hydro projects with a 20 megawatt (MW) capacity, 40 to 50 MW of solar and 20 to 30 MW of wind.
The company is presently developing a 15 MW hydropower plant in Bukidnon.
“We hope to start construction next year,” said Sytin.
The project has already received approval from the Department of Energy (DOE) for its service contract.
The 15 MW Upper and Lower cascading mini-hydro project will tap the Maladugao River in Lampanusan, Kalilangan, Bukidnon.
The plant will help ease power shortage in Mindanao since it is expected to generate 100 gigawatthours of additional energy by the second quarter of 2017, while also helping stabilize power rates in the region.
According to Sytin, UHPC will also look at other projects for power development across the country once the Bukidnon hydro project is completed.
Vergel 3 Consult Inc. engineer Manuel Vergel III acts as project consultant of the United Holdings hydro project. RITCHIE A. HORARIO