DMCI unit will invest $12M in Semirara wind project
January 15, 2024
The DMCI Power Corp. (DPC) is investing $12 million in its onshore wind project on Semirara Island, home of the biggest coal reserve in the Philippines.
Isidro Consunji, who chairs DMCI Holdings Inc., said the plan is to initially install a 12-MW wind power plant, with a potential expansion to over 100 MW, contingent on the installation of a submarine cable to Mindoro.
This project is set to be operational by the end of this year, with an investment of $1 million per megawatt, excluding interconnection costs, he said.
“The wind in Semirara is strong. Solar costs about the same at $1 million per megawatt. But the plant efficiency is about 17 percent capacity factor. Wind is a minimum of 30 percent,” Consunji noted.
In a 2001 wind resource study conducted by the National Renewable Energy Laboratory, a United States Department of Energy laboratory, it was found that Semirara Island has some of the best wind resources in the Philippines.
The wind corridors between Luzon and Panay, including Semirara Islands and extending to the Cuyo Islands, were found to have good-to-excellent wind power density and speed for utility-scale or village power applications.
DPC also plans to develop a 4 MW solar power project in Masbate.
Antonino Gatdula Jr., DPC president, added that the 4 MW solar project is just awaiting approval from the Energy Regulatory Commission (ERC).
“We are just waiting for ERC. We’re done with the pre-filing; ERC just has some requirements for submission. Once submitted, we will file the Power Supply Agreement (PSA) for approval,” he said.
This project is in partnership with Masbate Electric Cooperative Inc.
Last November, DMCI Holdings reported that its attributable income in January to September 2023 fell 28 percent to P20.01 billion from the previous year’s P27.62 billion, largely due to normalizing coal and nickel prices.
Consolidated core net income from January to September was about the same as last year’s due to a non-recurring gain of P2 million for the sale of a DMCI lot and a non-recurring loss this year of P27 million because of Maynilad Water Services Inc.’s forex losses and donations.
“We saw double-digit contractions in coal and nickel index prices because of the China economic slowdown and global oversupply. However, our power businesses acted as significant buffers,” Consunji said.
Lorenz S. Marasigan – Business Mirror January 8, 2024
https://businessmirror.com.ph/2024/01/08/dmci-unit-will-invest-12m-in-semirara-wind-project/