DMCI Power to Invest P160M in Masbate, Palawan
March 10, 2018
Off-grid electricity supplier DMCI Power Corporation (DPC) is spending approximately P160 million to acquire seven brand new diesel generating sets for its Masbate and Palawan operations.
The additional units will have a total capacity of 11.2MW, raising the company’s generation capacity in the two missionary areas to 90 MW, a 14 percent improvement from last year.
“We are expecting a significant increase in power demand in our host provinces this year. We want to ensure that DPC will have reliable power generators to supply our consumers with continuous, sufficient and dependable electricity,” said DPC President Nestor D. Dadivas.
In 2017, total energy sales of DPC increased 4 percent from 237.85 GWh to 247.06 GWh, the growth coming mostly from Masbate and Palawan.
Despite its modest sales growth, DPC’s net income declined 15 percent year-on-year from P424 million to P359 million, primarily due to the expiration of its income tax holiday for its Masbate operations.
EBITDA from SPUG operations of the company actually grew 8 percent from P612 million to P659 million.
DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid. Its off-takers include the electric cooperatives in Masbate, Oriental Mindoro, Palawan and Sultan Kudarat.