Mindanao to get $150M mini-hydro plant investments

First Philippine Holdings Corp. group plans to invest about US$150 million in three new mini-hydropower generation plants in Mindanao. It also plans to put up solar farms on top of the recent expansion of capacity in its wafer slicing plant, according to reports by the Philippine Daily Inquirer.

The company hopes to bring the proposed mini-hydro plants, each with a capacity of 50 to 60 MW, on stream by 2015, cording to FPH chief finance offer Francis Giles Puno.

“We’re in the process of completing feasibility studies. Hopefully, we’ll be able to pursue those projects, which are run-of-river type, projects that are simpler to build,” Puno said.

Clean and renewable energy now accounts for half of the group’s power portfolio. The group is also into gas-fired plants.