SPEX to hold 3-day investment summit for Oriental Mindoro

Shell Philippines Exploration B.V. (SPEX) is coordinating with the local government officials of Oriental Mindoro for the holding of a three-day investment summit on April 5 this year.

The summit aims to generate and promote investments in the areas of power and energy, eco-tourism, agribusiness, RORO and poverty alleviation for the sustainable development of Oriental Mindoro.

Aside from SPEX, the other proponents of the investment summit include the University of Asia and the Pacific, the office of 1st district representative Rodolfo Valencia; the office of the 2nd district representative Alfonso Umalu; and the office of Gov. Arnan Panaligan.

In a press briefing, Valencia said they are eyeing a number of wind and hydro power projects in the area.

"The province of Oriental Mindoro has been opened for private sector. There are even new power player — PowerOne — they have already put in 5MW and they’re expanding to 20MW," he said.

According to Valencia, another investor is looking at a possibility of putting up an 18 MW power facility near Puerto Galera.

Korea Electric Power Corp. (KEPCO), he said, is also interested in putting up a $2.8- million transmission line from Ilijan to Calapan.

Valencia said the province would need some P1.7 billion for power investment alone. "The provincial officials are also holding talks with the Spanish government to try and explore Mindoro’s Hydro — Magasawang Tubig could generate 24MW of power."

"In terms of hydro — there is Dulangan mini-hydro 1.6MW, the DOE has identified 14 hydro sites where two of them are indicative. We could easily develop some five to seven MW hydro power in the area," he said.

Another project, Valencia said, is Magasawang Tubig hydro which has potential of generating about 20MW.

He said that aside from wind and hydro, they could also tap geothermal energy sources in the province.

"We also have geothermal possibility in Lake Nauhan, which could yield around 20MW in power according to DOE. We have reasons to believe that we can explore our hydro, geothermal and etc. to bring the cost of our power lower," Valencia said.