DMCI Power to spend P1.2 B for expansion
February 24, 2017
DMCI Power Corp. (DPC), the off-grid supplier of the DMCI Group, is spending roughly P1.2 billion this year to boost its existing capacity, officials said yesterday. DPC president Nestor Dadivas said the company would raise the amount from short-term debt and equity.
“We will tap local banks. The major banks are always there —Bank of the Philippine Islands, BDO Unibank, and Philippine National Bank,” Dadivas said.
The amount would be used to augment DPC’s existing generation capacity and implement its scheduled maintenance programs in the provinces of Masbate, Oriental Mindoro and Palawan.
DPC recently purchased a 3.69-megawatt diesel generating set that would be installed in Mobo, Masbate. The gen units are expected to be operational by the first week of April. Dadivas said the back-up gensets would ensure a steady supply of reliable electricity in the province during the summer season when power demand is at its peak.
The gensets would likewise guarantee power supply availability when DPC units undergo scheduled maintenance in October and November.
Aside from the installation of its genset in Masbate, Dadivas said DPC is also finalizing plans to construct another bunker-fired power plant in Puerto Princesa, Palawan, which will have a rated capacity of 18.9 MW.
This comes after the successful commercial operation of its Aborlan bunker-fired plan last December. The company invested around P620 million to build the 10 MW Aborlan bunker-fired facility.
The Board of Investments recently granted DPC a six-year income tax holiday for the Aborlan power plant.
“DPC is committed to providing sufficient, reliable electricity to our host provinces. We want to aid their progress so we can continue creating shared value,” said Dadivas.