DMCI Power Corp. recorded a 17% increase in its energy sales in the first quarter to 63 gigawatt-hours (GWh) from 54 GWh, after the off-grid areas it serves all recorded higher volumes during the period.
“The increasing electricity demand in our service areas is primarily driven by the growth in household consumption and entrepreneurial activities. This is supported by a reliable and adequate supply of electricity,” said DMCI Power President Nestor D. Dadivas in a statement.
In a disclosure to the stock exchange, its parent firm DMCI Holdings, Inc. said the unit posted a 29% sales growth in Palawan to 28 GWh.
Masbate and Oriental Mindoro both showed a 9% increase in dispatch. Masbate recorded 24 GWh during the first three months from 22 GWh previously, while Mindoro posted a growth to 11 GWh from 10 GWh.
DMCI Power was put up in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid.
Earlier this month, DMCI said the off-grid energy subsidiary will have a capital expenditure of P2.034 billion, mainly to fund the development of a 15-megawatt (MW) power plant in Masbate province.
In March, the parent firm said DMCI Power had been allocated P160 million to acquire seven new diesel generating sets for its Masbate and Palawan operations.
The additional units, which have a total capacity of 11.2 MW, will raise DMCI Power’s generation capacity in the two missionary areas to 90 MW, or an improvement of 14% from last year. — Victor V. Saulon