FDC Utilities Inc., the power unit of the Gotianun family's Filinvest Development Corp., will build power plants across the country with a combined capacity of 500 megawatts that are expected to be operational by 2015 and 2016, documents from the Energy Department showed.
FDC Utilities completed the technical and financial study for the 405-MW Misamis coal-fired power project at the Phividec Industrial Estate in Villanueva, Misamis Oriental. The company signed a lease agreement with Phividec Industrial Authority.
A report by the Energy Department said FDC Utilities was in talks with an electric cooperative for the offtake agreement covering the electricity output of the ₱30-billion ($700 Million US Dollar) coal power project.
"Ongoing securing of permits and other regulatory requirements such as ECC [environmental compliance certificate], water and other permits [are] under process," the report said.
The Energy Department cited ongoing negotiations for financing arrangements and selection of contractor for engineering, procurement and construction.
FDC Utilities aims to commission the Misamis coal power project by June 2016 and start commercial operations by September 2016.
The company is also developing the 20-MW Danao coal power project in Danao City, Cebu, which is estimated to cost ₱1.51 billion be completed by 2016.
FDC Utilities tapped Formosa Heavy Industries a Taiwan based firm as the engineering, procurement and construction contractor. Semirara Mining Corp. and Indonesian companies will supply coal for the Danao project.
FDC Utilities plans to put up another 40-MW coal plant in Camarines Sur that is also expected to be completed by March 2016.
The Energy Department report said FDC Utilities had completed the technical and financial study for the Camarines Sur coal project and that the acquisition of project site was ongoing.
FDC Utilities signed a supply contract with a franchised electric cooperative. It was in negotiations for the financing arrangements and other permits, the report said.
FDC Utilities is also developing the 20-MW biomass/coal project in Maco, Davao del Norte that is estimated to cost P4.8 billion. The Davao del Norte power project is expected to be completed by March 2015.
The company, meanwhile, is evaluating a potential hydropower plant in Luzon as well as a water distribution project in Visayas.
FDC Utilities is a three-year-old company, one of the newer companies under FDC controlled by the Gotianun family.
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