Philippines: FDC Misamis may operate power plant --ERC

Philippines: FDC Misamis may operate power plant --ERC

Gotianun-led FDC Misamis Power Corporation (FDC Misamis), owner-operator of
Mindanao's biggest base load plant, has secured the green light from the
Energy Regulatory Commission (ERC) to start commercial operations.

After complying with ERC's financial, technical and environmental
requirements, FDC Misamis was awarded a Certificate of Compliance (COC) for
the first two units of the its 3 x 135 MW Circulating Fluidized Bed (CFB)
Coal Thermal Plant in Misamis Oriental.

ERC guidelines state that all generation companies are required to secure
COCs before they can start commercial operations. The company expects to
secure the COC for the third unit as soon as testing and commissioning are
completed. It has undergone provisional acceptance and is now operational.

Last September 22, President Rodrigo R. Duterte inaugurated the power plant
which has a combined capacity of 405 MW. It is owned and operated by FDC
Misamis, a subsidiary of FDC Utilities, Inc. and a member of the Filinvest
Development Corporation (FDC). It is the first power plant commissioned
under the Duterte administration. FDC Misamis is envisioned to end the
recurring power crisis that has afflicted Mindanao for decades.

"Our plant will finally put an end to the recurring power crisis that has
plagued the region and hopefully drive the much needed economic development
in Mindanao," FDC Misamis President and CEO Mario Pangilinan said in a
statement on Tuesday.

Since the start of testing, FDC Misamis' generating plants have been
supplying power to customers and other energy players at discounted rates,
greatly contributing to the Mindanao grid's stability.

Long term contractual commitments have been secured for more than 85 percent
of the plant's net capacity with 18 distribution utilities and industrial
customers throughout Mindanao.

Located in the PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental,
the power plant is a multi-billion peso investment that uses the latest in
clean coal technology: the circulating fluidized bed (CFB) boiler.

Considered as the cleanest process of burning coal, the technology is also
known for having higher steam generator efficiency thus lowering carbon
emissions.

FDC, the holding company of Filinvest Group, is one of the Philippines'
leading conglomerates with interests in property development, banking and
financial services, hotel and resort management, power generation and the
sugar industry. As of June 30, 2016, FDC has assets valued at P448.56
billion with stockholders' equity at P100.54 billion.

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com