Off-grid energy player DMCI Power Corp. on Thursday reported a 10 percent-increase in net income to P234 million in the first six months of 2019 from P234 million year-on-year.
The company disclosed to the Philippine Stock Exchange sales volume rose 19 percent in the first half of the year to 169.50 gigawatthours from 142.91 GWh on year following an upsurge in power demand and improvement of distribution and transmission line systems in key operating areas.
“The significant sales growth in Palawan is attributable to the increase in DPC’s level of dispatch following the expiration of Delta-P’s old power supply contract in April,” said DMCI Power president Nestor Dadivas.
The Palawan segment accounted for 43 percent of the total sales volume, followed by Masbate and Oriental Mindoro at 35 percent and 22 percent, respectively.
“Our Palawan power plants became the second priority in terms of energy dispatch so we were able to maximize our contractual capacity in the area,” he said.
The company said the rehabilitation of the 69kv transmission lines in Oriental Mindoro and on-going improvement of distribution lines in Masbate accounted for the double-digit sales growth in both provinces.
Established in 2006, DMCI Power is one of the biggest off-grid energy companies in terms of total installed capacity in the Philippines. The company serves as the power generation arm of DMCI Holdings Inc. that energizes the small and remote islands in the country.
DMCI Power operates and maintains bunker-fired power plants and diesel generating sets in parts of Masbate, Oriental Mindoro, Palawan and Sultan Kudarat provinces.