Thursday, November 21, 2024

Tag: Department of Energy

DBP lends P1.4-B for 8.4MW Mindanao hydropower plant

Posted on by cmn

CAGAYAN DE ORO CITY (Nov. 26, 2023/PIA) — State-owned Development Bank of the Philippines (DBP) has extended a P1.4 billion loan to a top renewable energy firm as partial funding to construct an 8.4-megawatt hydroelectric power plant in Bukidnon in line with the national government’s efforts to expand new and sustainable energy sources, a top official said

DBP President and Chief Executive Officer Michael O. de Jesus said the bank approved the loan to INVESTCO BHPI, Inc. under its Financing Utilities for Sustainable Energy Development (FUSED) Program, which seeks to help increase access to electricity services, particularly in the countryside.

“We are honored to be a part of this worthy endeavor. The construction of the 8.4MW Maladugao River hydroelectric power plant bodes well for the people of Bukidnon and is a tangible manifestation of President Ferdinand R. Marcos, Jr.’s vision of an energy-sufficient Philippines,” de Jesus said.

DBP is the ninth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small, and medium enterprises; the environment; and social services and community development.

INVESTCO BHPI, Inc. is a stock corporation established in 2013 mainly involved in developing, operating, and managing renewable energy with its proposed 8.4MW Maladugao River hydroelectric power plant expected to be on stream by 2025.

De Jesus said that under the FUSED program, DBP has approved a total of P81.5 billion in loans to 95 borrowers, while total loan releases have reached P57.2 billion as of the end of September this year.

He said the First Bukidnon Electric Cooperative contracted the 8.4MW Maladugao River hydroelectric power plant to supply an initial 5.5MW of electricity to southern Bukidnon, including Valencia City. This move aims to mitigate the impact of a looming energy shortage in the province by 2028 based on data from the Department of Energy.

“More importantly, this project is seen to stimulate the growth of local industries and small businesses, fostering increased economic opportunities for the people of Bukidnon,” de Jesus said. (DBP/PIA-10)

Mindanao power supply enough despite El Niño—DOE

Posted on by cmn

DAVAO CITY — The power supply of Mindanao will remain stable even during El Niño, an official of the Department of Energy (DOE)-Mindanao Field Office assured

During the Kapihan sa Philippine Information Agency (PIA) on August 17, Engr. Darwin P. Galang, DOE-Mindanao Field Office senior science research specialist, said that a simulation conducted by the agency showed that the occurrence of El Niño will not adversely impact the grid owing to the other sources of power in Mindanao.

He pointed out, however, that “the occurrence of El Niño will affect the hydropower plants because there will be a reduction of their capacities when the rivers and lakes are dried up.”

Galang noted that the Mindanao grid has a diverse mix of power sources, and will not likely suffer from the impact of drought.

Based on the estimate of the DOE-Mindanao Field Office, the power supply would remain sufficient “even with a 50% to 70% reduction in the available capacities of hydropower plants in Mindanao.”

Engr. Nilo J. Geroche, also of the DOE-Mindanao Field Office, said the agency activated in July the Task Force on Energy Resiliency to monitor the power supply situation in the country and mitigate the impact of calamities, including El Niño.

The task force is composed of the DOE, National Disaster Risk Reduction and Management Council, Energy Regulatory Commission, Inter-Agency Energy Contingency Committee, various groups in the energy sector, and agencies under the security cluster.

Geroche said the hydropower sources comprise 31.73% of the energy mix of Mindanao and contribute an average supply of 1,190 megawatts to the grid.

There is an excess supply of power on the island, with the available average supply estimated at 2,946 MW and an average demand of 2,051 MW as of August 15, according to Galang.

Geroche said that brownouts could have been caused by other factors on the transmission and distribution side, including insufficiency in the contracted power supply of some electric cooperatives and distribution utilities.

He said the problem of lack of contracted power may now be addressed by tapping into the Wholesale Electricity Spot Market where electric cooperatives and distribution utilities can buy power to fill the deficit.

In an advisory released by the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) last July 4, El Niño, which is characterized by fewer occurrences of rainfall and typhoons, is already present in the tropical Pacific.

It said that PAGASA’s climate monitoring and analyses indicate that “the unusual warming of sea surface temperatures along the equatorial Pacific that was established in March 2023 has further developed into a weak El Niño, which shows signs of strengthening in the coming months.”

It said that El Niño increases the likelihood of below-normal rainfall conditions, which could bring negative impacts such as dry spells and droughts in some areas of the country that may adversely impact the different climate-sensitive sectors, such as water resources, agriculture, energy, health, and public safety.

It added that the enhanced Southwest monsoon season (Habagat) may still be expected, which may result in above-normal rainfall conditions over the western part of the country. (Antonio L. Colina IV / MindaNews)