DMCI Power Corp sets aside P160 million to boost generation capacity

Consunji-led DMCI Power Corp. has set aside around P160 million to acquire seven new diesel generating sets for its Masbate and Palawan operations, its parent firm told the stock exchange on Monday, March 19.

DMCI Holdings, Inc. said the the additional units have a total capacity of 11.2 megawatts (MW). It will raise DMCI Power’s generation capacity in the two missionary areas to 90 MW, or an improvement of 14% from last year.

“We are expecting a significant increase in power demand in our host provinces this year. We want to ensure that DPC will have reliable power generators to supply our consumers with continuous, sufficient and dependable electricity,” DMCI Power President Nestor D. Dadivas said in a statement.

The holding firm placed DMCI Power’s energy sales for 2017 at 247.06 GWh from 237.85 GWh previously.

It said despite the sales growth, the unit’s net income last year dropped by 15% to P359 million from P424 million, “primarily due to the expiration of its income tax holiday for its Masbate operations.” — Victor V. Saulon