Philippines: Citicore Power secures hydro contracts

Philippines: Citicore Power secures hydro contracts

Citicore Power Inc. has secured from the Department of Energy service
contracts for five hydro projects in Southern Luzon with an expected
combined capacity of 2,300 megawatts.

The contracts authorize CPI to proceed with the pre-development stage of the
proposed projects that covers permitting and the conduct of various studies.

The company said that, since these are large-scale projects, pre-development
work alone may take three to five years for each facility.

"Citicore Power saw an opportunity to develop clean energy from renewable
sources that will invigorate the country's energy mix," CPI executive vice
president Manolo Candelaria said in a statement.

"Through the projects, the company aims to provide an answer to the
increasing demand for power in the Philippines," said Candelaria, who is in
charge of commercial and development operations.

CPI's portfolio so far includes 100 MW of capacity in solar power projects,
but is expanding into other types of renewable energy development.

The company has an 18-MW solar plant in Mariveles, Bataan; 25-MW solar farm
in Silay City, Negros Occidental; and 60-MW solar power facility in Toledo
City, Cebu.

Last June, the company said it was exploring the hydro power development
business as it aims to increase its total rated capacity to 1,000 MW.

"Given that the Philippines is an archipelago offering a large variety of
bodies of water, we believe in the enormous potential of natural hydro power
sources to produce clean electricity that can energize thousands up to
millions of homes across the country," Candelaria said earlier.

CPI is working with the PhilHydro Association to promote the use and
development of hydro sources.

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Link to Original Article:
http://business.inquirer.net/232602/megawide-power-unit-secures-hydro-contra
cts

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com