Ahunan Power to acquire pumped storage hydropower developer
The project is in the pre-development stage.
Prime Infra’s Ahunan Power, Inc. signed an agreement to hold a majority stake in renewable energy developer Olympia Violago Water and Power, Inc. (OVWPI) which is establishing a 500-megawatt (MW) Wawa Pumped Storage Hydropower Project.
In a statement, Prime Infra said the project located in Rizal province is still in the pre-development stage, with the construction expected to start in 2023.
Prime Infra said the acquisition will boost its renewables’ energy storage capacity by 6,000MWh per day defined by a maximum continuous generation at 15MW for 12 hours.
“Ahunan’s hydropower projects are aligned with the government’s thrust to accelerate the development of renewable energy resources, and reduce heavy reliance on fossil fuels,” said Prime Infra President and CEO Guillaume Lucci.
Prime Infra’s pipelines include the 1,200MW PSH plant in Pakil, Laguna and a solar project in Tanauan in Batangas, and Margondon in Cavite.
Another project included is the Terra Solar project which is a solar power facility with a minimum capacity of 2,500MW combined with a 4,000MW-hour battery energy storage system at the minimum.