The Department of Energy (DOE) has granted approval for a 25-year solar energy operating contract to a company in Misamis Oriental province, which commenced construction on its power facility on Monday.
In a statement, the DOE said it has granted approval for FDC Green Energy Corporation, part of FDC Utilities, Inc., to construct the 20.75 megawatts (MW) Misamis Solar Power Project, marking a significant step forward in the region’s renewable energy initiatives.
“We aim to boost our renewable energy capacity in the coming years, underscoring our unwavering commitment to sustainability and innovation,” said FDC Green president and CEO Juan Eugenio Roxas.
Roxas added that this is a critical step forward in the company’s transformational journey toward a balanced energy portfolio.
Under the DOE’s agreement, the project will feature more than 34,000 monocrystalline solar panels, generating an estimated 30,450 megawatt-hours (MWh) of renewable energy annually, which will boost regional grid stability.
Additionally, this solar venture aligns with the country’s renewable portfolio standards, requiring that 2.52% of the annual energy demand be met through eligible renewable sources.
