DMHC, electric coop ink power supply deal
BY LENIE LECTURA – SEPTEMBER 6, 2022
from Business Mirror
Photo shows the Dupinga Mini Hydro project in Nueva Ecija.
Dupinga Mini Hydro Corp. (DMHC) signed a power supply deal with the Nueva Ecija Electric Cooperative II-Area 2 (Neeco II Area 2).
Under the Power Supply Agreement (PSA), DMHC will source renewable energy (RE) from its 4.6megawatt (MW) Dupinga mini-hydropower proposed project to be located in Gabaldon, Nueva Ecija.
DMHC Vice-President Annette Rafael said the target completion of the hydro project is expected by early 2024.
“The PSA and DBP funding sustain the momentum for the Dupinga Project as we target completion and commencement of renewable power supply to NEECO II Area 2 by early 2024,” Rafael said.
“The signing of the PSA and its subsequent submission to the ERC for approval is one of last milestones successfully achieved to date in the development of the Dupinga Project.”
DMHC and Neeco II Area 2 are also set to submit a joint application to the Energy Regulatory Commission within the month for the approval of the PSA.
The Dupinga project will improve supply reliability and quality of power in the Gabaldon and other nearby municipalities which are at the tail-end of Neeco II Area 2 distribution system.
“As a lifetime commitment to our Member-Consumer-Owners, we need to stay consistent in providing efficient, reliable, and affordable electric services. The present administration’s eagerness to increase the sources of renewable energy inspires us, and it revives our hopes to continue the journey in figuring out how we can make our power supply more sustainable,” said Neeco II Area 2 General Manager Ramon de Vera.
Also, the Dupinga project is expected to generate savings for Neeco II Area 2 customers through avoided transmission fees and zero-VAT on the purchased power. As a renewable power supply with no fuel charges, power from the Dupinga project is competitively-priced against other power suppliers of Neeco II Area 2 which are mostly from coal power plants and are exposed to fuel price increases.
DMHC is a partnership between Alternergy Holdings Corp. and Markham Resources Corp., a renewable energy company led by Francisco Tiu Laurel of the Frabelle Group.
The Dupinga project forms part of Alternergy’s goal of building 1,245MW of RE capacity in the next 5 years.
Image credits: www.dbp.ph
