Strategic Power Development Corp., controlled by conglomerate San Miguel Corp., plans to build two hydro-electric power projects in Apayao province in the Cordilleria Administrative Region with a combined output of 310 megawatts.
Strategic Power sought the approval of the Energy Department to put up the 300-MW Putol 1 and the 10-MW Putol 2 hydro projects.
Strategic Power earlier considered the development of the San Roque Upper East Pumped Storage hydropower project with a capacity of 600 MW and the 400-MW San Roque Upper West Pumped Storage hydro power project.
Strategic Power is also looking at the San Roque Optimization Hydropower Project in San Manuel, Pangasinan that will generate 400 MW of electricity.
Also included in the list of planned hydro projects of Strategic Power is the 200-MW pumped storage hydro in Aklan and the 500 -W pumped storage hydro power in Aurora province.
The company is the independent power producer administrator of the 345-MW San Roque hydro project in San Manuel, Pangasinan.
Strategic Power trades the power electricity output of the San Roque hydro facility while San Roque Power Corp., the joint venture between Marubeni Corp. and Kansai Electric Power Co. Ltd., is responsible for the operations and maintenance of the power plant.
The San Roque hydro plant, designed as a build-operate-transfer project, holds a 25-year power purchase agreement with National Power Corp.
San Miguel won the right to manage the supply contract of the San Roque plant in 2009 with a $450-million bid.
San Miguel also holds a 60-percent stake in the 218 MW Angat hydro power plant in Bulacan.
San Miguel is currently building coal power projects in Bataan and Mindanao that are in various stages of development. It plans to build coal-fired plants in Cebu, Panay and other areas in the country.
San Miguel is diversifying into renewable energy sources through unit SMC Global Power Holdings Inc.
The company has shortlisted two Asian companies, one of which could be its strategic and technical partner on the green venture it declined to disclose.
San Miguel earlier said the expansion would relieve electricity consumers from higher bills resulting from the feed-in tariff subsidies extended to renewable energy producers.
San Miguel president and chief operating officer Ramon Ang said as the global renewable sector matures, the cost of RE technologies worldwide drops correspondingly.
San Miguel has focused so far in putting up base load power plants. It is nearing completion of the first phase of its coal plants in Bataan and Davao provinces and seeking similar projects in Mindanao and the Visayas.
“It’s about time we find a balance between promoting clean energy and securing the country’s energy needs without making consumers bear the cost of a punishing subsidy for years in favor of RE producers,” Ang said.
