The Philippines is looking to use the official development assistance (ODA) and other funding from the Chinese government to finance the rehabilitation and expansion of the Agus-Pulangui hydropower complex in Mindanao.
Department of Energy (DOE) secretary Alfonso Cusi said he agrees with the National Economic and Development Authority (NEDA)’s endorsement to use the funds to pursue the rehabilitation of the 727-megawatt Agus and the 225 MW Pulangui facilities before privatizing or divesting their operations.
The rehabilitation plan is part of NEDA’s Investment Coordination Committee-Cabinet Level for the Philippines and China’s cooperation agreement.
The rehabilitation will include Agus 6 unit 4, the Balo-i Plains Flood Control Project and the Pulangui 4 selective dredging phase 3.
“Having more than enough power in Mindanao is an opportune time that we have, to do the rehabilitation, and then after that, we can pursue privatization,” Cusi said.
The timeline of privatization and rehabilitation will be based on a study by the Power Sector Assets and Liabilities Management Corporation (PSALM) and National Power Corporation (NPC) will present.
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