Upcoming hydroelectric projects in Mindanao will be up for evaluation soon, in line with efforts to balance the use of fossil fuel and renewable energy power sources, according to an official of the Mindanao Development Authority (MinDA).
Based on a Business World report, MinDA deputy executive director Romeo Montenegro said the agency is expecting to move ahead with the resurgence or restarting of the applications for the hydro power projects.
Among the major pending applications are the 225-megawatt (MW) Agus 3 Hydro Power Plant by Maranao Energy Corporation in Balo-i, Lanao Del Norte. The project will be part of the Agus-Pulangi Hydropower Complex (APHC). Montenegro added that the Department of Energy is currently reviewing the project’s commercial viability.
The overall rehabilitation plan for the Agus-Pulangi facility is also underway, with the proposal coming from government-run Power Sector Assets and Liabilities Management Corporation, which owns APHC.
Previously, the Department of Finance said the rehabilitation will push through after it received around Php33.4 million worth of financing from the World Bank, but MinDA opposed this believing it should be left in the government’s hands.
The privatization of the 982MW system aims to minimize power costs and stabilize electric supply in Mindanao.