Four new hydropower projects could give the Philippines more than 1,200 MW of additional capacity.
The plants, proposed by San Lorenzo Ruiz Builders and Developers Group Inc. (SLRB), include the 500-MW Wawa in the Rizal province, 312 MW combination conventional/pumped-storage plant in Samar, and 160-MW Davao and 240-MW Chico River plants in Northern Luzon.
“These projects are very much needed in our country,” SLRB president and CEO Oscar Violago said. “We will be able to greatly help the power crisis in the Philippines.”
Banco de Oro Capital and Investment Corp. will serve as financial adviser for the US$2.5 billion undertaking.
“As financial advisor, we will help them arrange and look for partners,” BDO president Ed Francisco said. “We will help them select the debt and equity partner to finance the projects.”
SLRB said a number of foreign investors have expressed interest in the projects, but that the company is not ready to disclose potential partners.
Construction of the projects would take between three and four years, according to SLRB.
HydroWorld.com reported in March that Philippine Department of Energy had approved a proposal from the Strategic Power Development Corp. for a 200 MW pumped-storage hydropower project in Aklan. The Philippine DOE awarded contracts four small hydropower plants being developed in Negros Occidental by the Basic Energy Corporation in February.
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