BY F. YAP SECURITIES / 2TRADEASIA
Filinvest Development (FDC) unit, FDC Misamis Power (FDC-MP), received approval from Energy Regulatory Commission (ERC), for the Power Purchasing Agreement (PPA) with Davao Oriental Electric Cooperative (Doreco).
Under the accord, Doreco will purchase 6MW from FDC-MP for 15 years, at P3.33/kWh. FDC-MP’s coal-fired PHIVIDEC plant in Misamis Oriental is slated for commission in 2016.
Doreco is currently sourcing 5.4MW from state-owned hydro plants, to expire in 2016, & another 6MW from Aboitiz Power’s (AP) power barges.
Meanwhile, FDC-MP already secured contracts with 17 other electric cooperatives for its first 2 x 135MW generating units.