SPC Power Corporation is considering procuring or constructing new power projects to strengthen the firm’s renewable energy (RE) portfolio.
In a report by Inquirer, SPC Power chairman Alfredo Henares said that the company is determined to look into possible acquisitions or erect new projects that would guarantee the sustainability of the firm over time.
Meanwhile, SPC senior vice president for business and commercial operations Cesar Villegas said that the firm is ready to welcome partners to work on upcoming electricity projects and that the management was already in communication with potential companies.
This year, the SPC Power board gave the green light for the firm’s capital expenditure (CAPEX) of Php 2 billion to be utilized mainly on renewable projects, which will be financed through its cash and other financing activities.
Along with battery energy storage projects, SPC executive vice president James Roy Villareal also said that the company is currently looking into and building solar and hydro projects.
The goal set by SPC Power was to increase power generation capacity by 500 megawatts (MW) over the following 5 years.
