Digos solar plant to boost capacity
BY LENIE LECTURA – FEBRUARY 28, 2022
from Business Mirror
THE Digos solar plant of Fort Pilar Energy Inc. (FPEI) is expected to operate at its expanded capacity to 40 megawatts (MW) by the end of the year.
“We are expanding its capacity from 29 MW to 40 MW, hopefully by end of the year,” FPEI CEO Joseph Omar A. Castillo said.
FPEI acquired last year the 28.59MW solar plant in Digos, Davao del Sur for P1.5 billion. The power asset was acquired from Alterpower Digos Solar Inc. (ADSI), the joint venture of Hanwa Global Asset Corp. and Alterpower Specialist Inc.
Officials earlier said that the company is prepared to spend P500 million to expand the plant’s capacity.
“Our expansion, hopefully, we can complete it in six to eight months. We’re now in the process of looking for PV panels and selecting our EPC [engineering, procurement and construction] contractor,” added Castillo.
The company’s investment in a solar power plant in Mindanao reflects its firm belief that the growth of the Philippines lies in the development of our rural areas. It is also looking at developing more solar power projects in Luzon and Visayas, in a bid to strengthen its power portfolio.
“We are, of course, looking at seeking new service contracts specifically in Luzon, targeting a capacity of 200 MW. We’re looking into a land somewhere in Batangas right now. We have been offered a number of projects in pre-development stage in the Visayas area with a capacity of 100 MW,” he added.
Should these push through, FPEI’s capacity will increase by 100MW.
“If we trigger that acquisition, hopefully, we can increase our capacity by another 100 MW by 2023. Those are our plans in our solar business. We are excited to increase our portfolio in the solar space,” Castillo said.
In May last year, FPEI was declared as the winning negotiating party for the 650MW Malaya thermal power plant after submitting the highest offer with P3.12 billion for the asset, which is substantially above the minimum offer price set at P1.85 billion.
