Prime Metro, JBD to invest P60b in Laguna hydro project
By Alena Mae S. Flores – November 27, 2022, 7:05 pm
from manilastandard.net
Ahunan Power Inc., a joint venture of Prime Metro Power Holdings Corp. and JBD Water Power Inc., is developing a P60-billion pumped-storage hydroelectric power project with a capacity of 1,400 megawatts in Laguna province.
Prime Metro is a unit of Prime Infrastructure Capital Inc. of businessman Enrique Razon Jr. that focuses on building assets to support the most urgent sustainability priorities in energy, clean water, waste management and infrastructure.
Documents submitted by API to the Department of Environment and Natural Resources for its environmental impact study showed that the Pakil pumped storage project would be constructed in two phases.
The first phase involves 677 MW with a project cost of P31.105 billion, while the second phase would add 723 MW at P24.595 billion.
The pumped storage hydro project is expected to start construction next year and to be in operation by the end of 2027.
“The main objective of the project is to act as a buffer for the Luzon grid between electricity demand and the output of the various renewable energy projects which are expected to come online in the foreseeable future,” API said.
“Until such renewable projects have come online, the project will serve to shift available over-capacity on the grid during nighttime for use during the daytime. It will also be capable of providing grid stabilization services to the Luzon System Grid,” it said.
It will utilize a reversible pumped-storage system to generate energy. Water will be pumped from the Laguna Lake lower reservoir to the upper reservoir, where energy will be stored. The stored water will then be released through turbines to produce electricity.
API said the project would increase tax collections for the local government units, provide additional income for the LGU and promote the establishment of new businesses and industries.
“With the project’s long operating lifespan, there will be a continuing job generation during construction up to the operating phase, and the access road improvements can provide continuing progress to the community,” the company said.
The project area is covered and authorized for development under the hydropower service contract between API and the Department of Energy in December 2019.
The Laguna Lake Development Authority also granted a conditional surface water permit to API, allowing it to facilitate detailed engineering studies and preliminary activities for the project.
It is considered an energy project of national significance, which is aligned with the thrusts and goals of the Philippine Energy Plan 2020-2040 which aims to increase of renewable energy in the power mix.
API said the EIS for the Pakil pumped-Storage hydro project was prepared to obtain an environmental compliance certificate.
The project is located on the east bank of Laguna de Bay in Pakil. It is estimated to cover about 300 hectares of land across the barangays of Baño, Burgos, Rizal and Taft in Pakil.
API offered to supply 500 MW of RE to cover Manila Electric Co.’s mid-merit requirement starting March 2026. The unsolicited offer is subject to a competitive challenge.
