Consortium investing P2.1B in microgrid power projects
A PRIVATE CONSORTIUM is investing P2.1 billion in microgrid power projects that are expected to meet the electricity needs of 11,560 households in underserved island communities.
In a statement on Wednesday, Maharlika Consortium said it broke ground on 24 new microgrid projects after obtaining regulatory approvals from the Energy Regulatory Commission.
The consortium, which is not affiliated with the Maharlika sovereign wealth fund, said the project pipeline is “the largest private-sector investment in rural electrification in the Philippines.”
The projects will ultimately benefit more than 50,000 people and local enterprises in Palawan, Cebu, and Quezon provinces.
The microgrids that have been approved will initially deploy 7 megawatts of solar photovoltaic system, an 8-megawatt-per-hour battery energy storage system, and a 3.5-megawatt diesel power generator.
To ensure delivery to communities, the consortium will also set up smart power distribution networks in the three provinces.
Construction is expected to run for 10-12 months.
The microgrid projects are developed through its special purpose vehicles Archipelago Renewables Corp. and ARC II. Lead developers are Singapore’s CleanGrid Partners Pte. Ltd., WEnergy Global Pte. Ltd, and Maharlika Clean Power Holdings Corp.
“These approvals and the subsequent groundbreaking validate our approach: building bankable, scaleable microgrids to empower the over 2 million Filipino households that remain unenergized,” Maharlika Clean Power President Quintin V. Pastrana said.
Maharlika Consortium was the first winning bidder of the government’s microgrid auction, bagging the contract to provide electricity services in eight unserved areas in the three provinces.
“Our 24-site portfolio is diversified, de-risked, and shovel-ready, now also open for financing of eight additional sites,” according to Atem S. Ramsundersingh, chief executive officer of WEnergy Global.
He said that the consortium is hoping to apply for more sites for development this year. — Sheldeen Joy Talavera
