Filinvest’s energy arm, FDC Green Energy Corporation (FDCGEC), is announcing its intention to develop its solar power project in Misamis Oriental.
Manila Bulletin reported that the plan to increase the solar power project’s capacity from 11.5 megawatts (MW) to 19.78 MW stems from the results of the comprehensive feasibility studies that revealed opportunities to boost project performance.
FDC Utilities, Inc. Chief Executive Officer and President Juan Eugenio L. Roxas said that Filinvest is currently exploring a variety of energy projects in preparation for a 7% yearly growth in peak demand through 2040.
The development would include the installation of over 34,000 monocrystalline solar panels capable of generating around 30,450 megawatt-hours (MWh) of clean energy each year.
The corporation believed that renewable energy (RE) would aid key industry players in meeting the Department of Energy’s Renewable Portfolio Standards (RPS) requirements.
In 2023, to help achieve the country’s goal of boosting the RE share to 35% by 2030, RPS required participants to secure 2.52% of their annual energy demand from approved RE plants.