Power Group Online Article |  | |
30 April 2007 - Philippine National Oil Company (PNOC) has announced plans to build another hydroelectric power plant in Mindanao at a cost of about $250m to help prevent a looming energy crisis in the country's second-biggest island.
Pedro A. Aquino Jr., PNOC president, said the state-owned company is to develop the 150 MW Bulanog-Batang hydro power project in Bukidnon province.
"We have to respond to the looming energy crisis in Mindanao and we are looking at the Bulanog-Batang hydro project as one renewable project that can help address this situation," he said.
Rene Bala, PNOC manager for energy research, said the company plans to shoulder about 30 percent of the cost of the project, and allow private investors to spend for the remaining amount. Bala said PNOC has yet to send invitations to other parties for the remaining 70 percent although the Northern Mindanao Electric Cooperative Association Hydro Power Corp. (NORMECA) has already signified its interest in the facility's funding requirements.
PNOC recently signed an agreement with NORMECA formalizing their technical alliance to facilitate the development of the $245 million project.
|
Return to Previous Page
Power Engineering Webcasts | |
|
Sponsored White Papers Library | | |
|
|
|
|
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
