Lucio Co invests in Mindoro mini-hydro project
MANILA, Philippines - Chinese-Filipino businessman Lucio Co, the majority owner of the Puregold supermarket chain, has partnered with renewable energy developer Sta. Clara Power Corp. for an eight-megawatt mini-hydropower project in Catuiran, Oriental Mindoro.
Co’s Union Energy and Sta. Clara Power will put up a P1.9-billion mini hydropower project, which is expected to be operational in the middle of 2016. The partners plan to start construction this year, company officials said.
Sta. Clara Power chairman Nicandro Linao said they are scheduled to hold the groundbreaking ceremonies today.
“We are very happy to work with Mr. Co’s Union Energy for the eight-megawatt mini-hydropower project,†Linao said.
He said the project is seen to address the growing power needs of Oriental Mindoro and its nearby areas.
Mindoro has been relying on the National Power Corp.-Small Power Utilities Group for its power needs but has also been experiencing power shortages.
“Needless to say, it resulted in huge losses for businesses. We aim to address this concerns by putting up the Catuiran hydro project,†Linao said.
The eight-MW hydropower run-of-river project, to be established on the southern side of the Catuiran river, would be on line by the middle of 2016, he also said.
The Catuiran River is one of the major river systems in Oriental Mindoro that originates from Mt. Halcon, is the highest mountain in Mindoro Island.
The river runs through mountainous regions from upstream to midstream where the project site is located.
For his part, Sta. Clara president Asisclo Gonzaga said the company’s latest venture supports the government’s call to put up green energy sources.
“We are supporting the government’s call to put up green energy sources under the renewable energy law. We expect to start construction within the year,†Gonzaga said.
Sta. Clara Power currently owns and operates the 1.2-MW Loboc mini-hydropower plant in Bohol and has a 45-percent stake in the Amlan mini-hydro in Negros Occidental. Other projects include the 9-MW Cantakoy mini-hydro project in Bohol, Tinoc mini-hydro projects and other upcoming projects in Mindanao and Luzon.
Union Energy, meanwhile, owns 66 percent of San Jose City I Power Corp., a renewable energy company that plans to build a 9.9-MW biomass plant in Tulat Rd., San Jose City, Nueva Ecija.
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