FDC Misamis Power Corp., the power unit of Filinvest Development Corp., said it completed a 405-megawatt coal-fired power plant in Misamis Oriental that is expected to end the power crisis in Mindanao.
FDC Misamis said in a statement the power plant was now the biggest coal-fired power facility in Mindanao.
The power plant is composed of three units, with 135-MW capacity each, that will be fully synchronized to the grid by mid-September.
The company said the second unit of project was successfully synchronized to the Mindanao grid, a month after its first unit went online. The third unit is scheduled for synchronization by mid-September. The plant is the first power facility to be commissioned under the Duterte administration.
“To date, FDC Misamis has a generating capacity of 270 MW and is currently supplying over 200 MW into the Mindanao grid. So far, the commissioning test has been running smoothly and we expect to attain the full capacity of 405 MW by this month,” Mario Pangilinan, president and chief operating officer of FDC Utilities Inc., Filinvest’s utilities arm.
Pangilinan said Mindanao had suffered from perennial power crisis for decades, given its high dependence on hydro power compounded by the increasing frequency of El Niño dry spell.
“Our project will finally put an end to this recurring power crisis that has plagued the region and hopefully drive the much needed economic development in Mindanao,” Pangilinan said.
The power plant, located at the Phividec Industrial Estate in Villanueva, Misamis Oriental, is a multi-billion peso investment that uses the latest in clean coal technology—the circulating fluidized bed boiler technology.
“The operation of the FDC Misamis power project will greatly boost the supply security in the Mindanao region. And this is not only because of its large capacity but also due to its strategic connection to the grid. With this development, our system will be more reliable and the quality of service will be higher,” Ambrocio Rosales, officer-in-charge of Mindanao system operations department of National Grid Corp. of the Philippines.
FDC Misamis will supply a total of 500 MW with the inclusion of the 100-MW Apo geothermal independent power producer administrator contract upon completion of the commissioning.
FDC Misamis secured long-term contractual commitments for more than 85 percent of the project’s net capacity with various distribution utilities and large industrial customers in Mindanao.
“The entire Filinvest group is committed to Mindanao’s development. This is the biggest investment we have made among the numerous ventures we have undertaken in the region,” Filinvest chairman Jonathan Gotianun said.
Filinvest is the the holding company of the Gotianun-led Filinvest Group, one of the Philippines’ leading conglomerates with interests in property development, banking and financial services, hotel and resort management, power generation and the sugar industry.