DMCI Power Corp. targets to include solar energy in its energy mix in 2023, the power generation arm of DMCI Holdings, Inc. announced on Wednesday.
“Next year, we are targeting to include solar energy in our mix. We have a four megawatts (MW) solar plant that’s set to operate in Masbate by the fourth quarter of 2023,” Antonino E. Gatdula, Jr., president of DMCI Power, said in a media release.
DMCI Power has also invested P745 million to expand its installed capacity in Masbate. The off-grid energy provider said it had installed an additional 11 MW of generation capacity in the province, increasing its installed capacity by 21%.
“One plant is already operational while the other is set to run within the month. These investments are in line with our commitment to provide adequate, reliable and dependable power supply in missionary areas,” Mr. Gatdula said.
For the January-to-September period, energy sales in Masbate rose by 11% to 111 gigawatt-hours (GWh) from 100 GWh driven by strong energy demand, the company said.
Last month, the power generation company said it had deployed and operated a three-MW diesel plant in Pio V. Corpuz town in Masbate.
Meanwhile, the company is also targeting the operation of the eight-MW diesel power plant in Cataingan town this month, while the plant’s final testing and commissioning go on.
In August, DMCI Power said that the company was planning to explore hybrid systems with the possibility of using biomass and coal to energize off-grid areas.
DMCI Power has a combined capacity of 148 MW in Masbate, Palawan, and Oriental Mindoro.
Established in 2006, the company is primarily engaged in energizing off-grid small and remote islands. Its portfolio includes diesel, bunker, and thermal energy.
On Thursday, shares in DMCI Holdings closed 0.61% higher to end at P9.93 each. — Ashley Erika O. Jose