DMCI Power Corp. gets income tax breaks for Palawan project

dmci-power-corp-gets-income-tax-breaks-for-palawan-project

The Board of Investments (BOI) has granted the DMCI Power Corp. (DPC) tax perks for its P620-million power facility that will provide 10 megawatts (MW) of power in Palawan.

DPC will receive a six-year income tax holiday for its 2×4.95-MW bunker-fired plant in Aborlan, Palawan once it commercial operations begin.

“This incentive will effectively lower DMCI Power’s true cost of generation charge, in the end benefitting the electricity consumers of Palawan,” DPC president Nestor Dadivas said.

“Construction of the Aborlan plant is proceeding as scheduled. We expect it to go online by year-end,” Dadivas added.

DPC’s qualification for the tax perk was based on its project’s capability to contribute to economic development measured by its net value added, jobs generated, multiplier effect and measured capacity.

The off-grid energy company also provides power to Calapan, Masbate, Oriental Mindoro and Sultan Kudarat in partnership with its local electric cooperatives.

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