FDC Misamis Power Corp.’s 405-megawatt coal-fired power plant in Misamis Oriental was officially inaugurated on Thursday by President Rodrigo Duterte.
The FDC Misamis Power Corp.’s plant is envisioned to end the power problem that has been in the region for decades. A few more generation facilities are expected to open in the coming months that may finally end the region’s power crisis.
FDC Misamis said that the plant’s generating units were synchronized to the Mindanao grid prior to its inauguration, and it has been contributing to the stability of the grid.
“Long term contractual commitments have been secured for more than 85 percent of the project’s net capacity with various distribution utilities and large industrial customers covering 205 municipalities and barangays in Mindanao,” it said.
The facility is the first commissioned power plant under the Duterte administration.
“We want to help this administration by providing power at the most affordable cost and in the most reliable with technology that protects the environment,” FDC president and CEO Josephine Gotianun Yap said.
The power plant is located along Barangays Tambobong and Balancanas, Villanueva in Misamis Oriental.
“The Filinvest Group has invested in Mindanao for decades and we continue to place our confidence in the region because the country’s development can happen only if we make sure Mindanao grows alongside the rest of the country.” FDC Chairman Jonathan Gotianun said.
The FDC is the holding company of the Filinvest Group.