September 1, 2016
from Business Mirror
FDC Misamis Power Corp.’s (FDC Misamis) 405-megawatt (MW) coal plant is expected to run at its full capacity by the end of this month, following the synchronization of the second unit to the Mindanao grid.
The synchronization of the second unit comes a month after the first unit went online.
“To date, FDC Misamis has a generating capacity of 270 MW and is currently supplying over 200 MW into the Mindanao grid. So far, the commissioning test has been running smoothly and we expect to attain the full capacity of 405 MW by this month,” said Mario Pangilinan, president and COO of FDC Utilities Inc.
Pangilinan added, “Mindanao has been suffering from a perennial power crisis for decades, given its high dependence on hydropower compounded by the increasing frequency of El Niño. Our project will finally put an end to this recurring power crisis that has plagued the region and, hopefully, drive the much-needed economic development in Mindanao.”
Upon commissioning of its third unit, FDC Misamis will be supplying a total of about 500 MW, with the inclusion of its 100-MW Apo Geothermal IPPA (Independent Power Producer Administrator) contract. Long-term contractual commitments have been secured for more than 85 percent of the project’s net capacity with various distribution utilities and large industrial customers in Mindanao.
Once the 450-MW (3X135-MW) power facility starts operating at full capacity, it will be the biggest power plant in Mindanao.
“The entire Filinvest group is committed to Mindanao’s development. This is the biggest investment we have made among the numerous ventures we have undertaken in the region,” said Jonathan Gotianun, chairman of Filinvest Development Corp. (FDC).
Located in the Phividec Industrial Estate in Villanueva, Misamis Oriental, the power plant is a multibillion-peso investment that uses the latest in clean coal technology: The circulating fluidized bed (CFB) boiler technology. Considered as the cleanest process to burning coal, the technology is also known for having higher steam generator efficiency, thus lowering carbon emissions.
“The operation of the FDC Misamis power project will greatly boost the supply security in the Mindanao region. And this is not only because of its large capacity, but also due to its strategic connection to the grid. With this development, our system will be more reliable and the quality of service will be higher,” said Ambrocio Rosales, officer in charge head of Mindanao System Operations Department of NGCP.
FDC, the holding company of the Gotianun-led Filinvest Group, is one of the Philippines’s leading conglomerates with interests in property development, banking and financial services, hotel and resort management, power generation and the sugar industry. As of end-June, FDC had assets valued at P448.56 billion with stockholders’ equity at P100.54 billion.