Vince Perez-led hydro firm to supply RE in Nueva Ecija
September 5, 2022 | Bilyonaryo.com
Alternergy’s Dupinga Mini Hydro Corp. (DMHC) has signed an agreement to supply renewable power from the 4.6 megawatt Dupinga mini hydropower project located in Gabaldon, Nueva Ecija.
The Dupinga project is being co-developed by DMHC, a partnership between former energy secretary Vince Perez-led Alternergy Holdings Corp. and Markham Resources Corp., a renewable energy company led by Francisco Tiu Laurel of the Frabelle Group.
DMHC and Nueva Ecija Electric Cooperative II – Area 2 (NEECO II Area 2) are set to submit within the month a joint application to the Energy Regulatory Commission (ERC) for approval of the power supply agreement (PSA).
“The signing of the PSA and its subsequent submission to the ERC for approval is one of last milestones successfully achieved to date in the development of the Dupinga project,” DMHC vice-president Annette Rafael said.
Rafael said the PSA and funding from the Development Bank of the Philippines would sustain the momentum for the Dupinga project with target completion and commencement of renewable power supply to NEECO II Area 2 by early 2024.
Rafael said the Dupinga project is seen to improve supply reliability and power quality in Gabaldon and other nearby municipalities.
“As a lifetime commitment to our member-consumer-owners, we need to stay consistent in providing efficient, reliable, and affordable electric services. The present administration’s eagerness to increase the sources of renewable energy inspires us, and it revives our hopes to continue the journey in figuring out how we can make our power supply more sustainable to defeat the threats of frequent power outage,” NEECO II Area 2 general manager Ramon de Vera said.
The Dupinga project forms part of Alternergy’s goal of building 1,245MW of renewable energy capacity in the next five years.