Corporate News

RE developer spending P2.7B on hydro plants

Posted on January 08, 2014

HYDROTEC Renewables, Inc. plans to invest up to P2.7 billion to develop eight hydro power plants in Luzon, the renewable energy (RE) firm said in a statement yesterday.

Hydrotec said it was awarded eight renewable energy service contracts by the Department of Energy for “small hydro power projects along Marikina River and its tributaries with total investment estimated at P2.3 billion to P2.7 billion.”

The firm said the hydro projects will have a combined capacity of 25-30 megawatts.

Six of these will be located in the province of Rizal -- two in Antipolo City, three in the municipality of Rodriguez and one in San Mateo -- while the remaining two will be built in Marikina City.

Hydrotec said site preparation for construction work has begun and construction of each project is expected to take between six to eight months. “The company targets to complete all eight hydro projects by 2016,” Hydrotec said.

Hydrotec Director Hannes Mueller said in the statement that equipment for the eight hydro projects are also being readied.

“The electro-mechanical equipment like hydro turbines, generators, control boards, hydrological equipment will be manufactured in Germany, which guarantees highest efficiency and a lifetime of over 50 years,” Mr. Mueller said.

The projects, the official noted, will also provide employment to host communities and will be beneficial to the environment.

“Any kind of renewable, ecological friendly produced electricity is an essential contribution to the protection of our environment and nature for forthcoming generations and it will stabilize or lower electricity prices,” he said. “The major benefit of our projects is the average annual contribution of hundreds of megawatt-hours of clean electricity to the Philippine grid, reduction of brownouts, avoiding thousands of tons of carbon dioxide emissions and a significant reduction of the import and dependence of crude oil and the operation of environment polluting carbon and diesel plants.”

Hydrotec, a firm formed by German and Filipino investors, is a member of the German-Philippine Chamber of Commerce and Industry, according to the same statement. -- C. A. M. C. Feliciano