Tuesday, February 27, 2024

Firm To Install 34K Solar Panels, Adds Mindanao Capacity To 95%


Firm To Install 34K Solar Panels, Adds Mindanao Capacity To 95%

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A private power company is set to install 34,000 solar panels in its Misamis Oriental base of operation, promising an increased power capacity of 95 percent throughout Mindanao distributors.

Juan Eugenio Roxas, president and chief executive officer of Filinvest Group’s power arm, FDC Utilities Inc., said its renewable project under FDC Green Energy Corporation (FDCGEC) has identified opportunities to maximize the output of the project after conducting comprehensive feasibility studies, increasing the capacity from 11.5 megawatts (MW) to 19.78 MW.

“We are excited to share the positive outcome of our feasibility studies, which have paved the way for the expansion of our first solar power project in Mindanao,” Roxas said in a statement Monday.

The project involves the installation of more than 34,000 monocrystalline solar panels, which can inject 30,450 MW-hours of clean energy annually into the grid that can help electric power industry participants, including electric cooperatives, and comply with the Department of Energy’s renewable portfolio standards.

The FDC-Misamis power facility is currently leasing around 84 hectares within the industrial complex of the Philippine Veterans Investment Development Corporation (Phividec) in Villanueva, Misamis Oriental, where 40 hectares are used for its administration building and coal-fired power plant.

Last year, Phividec and FDC Utilities signed a registration agreement for the solar project.

FDCGEC recently updated its land lease agreement with the Phividec Industrial Estate, adding 7.2 hectares of land to the existing 11.65 hectares allotted for the project.

Last week, another agreement signing took place between the two parties to build the FDC Solar Photovoltaic Power Project, which aims to produce an additional 10 MW of electricity. (PNA)