by Lenie Lectura – December 7, 2015
from Business Mirror
RANGAS Hydropower Corp. broke ground on Friday for its 1.5-megawatt (MW) mini-hydropower power plant in Camarines Sur. The members of the consortium are Mega Renewable Power Development, Viscal Development Corp., Brightvale Ventures, Greentech Asia, Ormin Power and Repower Energy Development Corp. (REDC).
The power project, in the municipality of Goa will produce 10 gigawatt-hours of energy annually, allowing the franchise area of Camarines Sur IV Electric Cooperative (Casureco IV) to gain direct access to clean and sustainable energy. The electric cooperative will purchase the power from the consortium at P5.75 per kilowatt-hour (kWh), lower than the government regulated feed-in-tariff (FiT) rate of P5.90 per kWh.
“We have committed to reinvest part of our profit from the 1.5-MW Rangas mini-hydropower plant back to said electric cooperative. With this, Casureco IV can improve their services to their consumers,” REDC Chief Executive Dexter Tiu said. Casureco IV provides service power to nine municipalities with 258 barangays in the Camarines Sur’s Fourth District.
“We have worked on this project since 2009, the permitting process takes forever. It’s about time we commence construction and start generating power in the next 30 months,” Mega Renewable Power Development Chairman Benson Lao said.
“This power-generation project will benefit the consumers of Casureco IV. While its output may not be enough for the whole franchise area, it will provide for some reliability in cases when the National Grid fails,” Lao said.