Off-grid energy company DMCI Power Corporation is building a 2×4.95MW bunker-fired power plant in Aborlan, Palawan to stabilize electricity supply in the franchise area of Palawan Electric Cooperative, Inc. (PALECO). The plant is expected to commence operations by year-end.
“We are investing approximately P600 million in Aborlan to address the continuing increase in electricity demand in the province due to the rise of local tourism and commercial establishments,” said DMCI Power President Nestor D. Dadivas.
Aborlan is a first class municipality located 69 kilometers south of Puerto Princesa City. Its population is estimated at over 32,000.
As of June 2016, only 5,400 of the 7,263 households in the municipality have electricity connections.
DMCI Power was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid.
Aside from Palawan, the company also provides power to Masbate, Calapan, Oriental Mindoro and Sultan Kudarat through supply contracts with electric cooperatives. To date, DPC has a total contracted capacity of about 56MW.
DMCI signs P4.4B new projects
Meanwhile, DMCI secured P4.4 billion worth of new contracts during the first six months of 2016, bringing its total order book to P27.9 billion.
Among its newlysigned projects are the Spectrum BPO Building, City Gate of Ayala Land, a 50ML water reservoir in Quezon City and a 2X23MW gas turbine plant in Batangas.
Major ongoing projects include Metro Manila Skyway Stage 3, civil works for LRT Line 2 East and several highrise buildings.
DMCI booked a 19 percent increase in net earnings during the first half of the year, from P333 million to P397 million as cost overruns for a power plant project were fully recognized in 2015.
The company anticipates more construction projects to come from the public sector, following plans of the national government to hike infrastructure spending to up to 6 percent of the gross domestic product.
“We believe that DMCI is well-positioned to assist in the infrastructure renewal plan of the Duterte administration because of our track record in implementing complex and large-scale projects,” said DMCI president Jorge A. Consunji.
Some of the key infrastructure projects completed by DMCI are the Tarlac Pangasinan La Union Toll Expressway, LRT Line 1 North Extension Project (Joint Venture with First Balfour, Inc.), South Metro Manila Skyway Project (Stage 2), R10 to Tayuman Rail Line, Carmen and Magat Bridges, among others. – BusinessNewsAsia.com