Philippine developer Olympia Violago Water & Power Inc. has signed a partnership with PowerChina for the design, procurement and construction of the 500-MW Wawa pumped storage hydroelectric project.
The plant will be located in Rizal province and is expected to cost US$1 billion, according to power producer Equis Energy, which is also partnering in the project. Also included in the development group is San Lorenzo Ruiz Builders and Developers.
“The Wawa pumped storage project is one of the Philippines‘ most strategically important power generation assets in terms of ensuring the immediate reduction of power prices,” Equis chairman David Russell said.
Wawa is intended to help support the Philippine government’s push toward tripling the country’s green generating capacity by 2030 by providing grid stability.
“OVPI will deliver a project of national significance with the best technology that will not only provide gainful employment for the local communities, but also will ensure a stable supply of energy for generations of Filipinos to come,” Olympia Violago Water & Power chair Oscar Violago said.
Construction on the pumped storage plant is expected to begin by the end of this year, with commissioning planned for 2022.
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