MANILA, Philippines - Aboitiz Power Corp. (APC), the power generation arm of the Aboitiz Group, expects to start the expansion of its hydroelectric power project in Davao by September this year.
APC president and CEO Erramon Aboitiz said works on the Upper and Lower Sibulan project should start in September or by the third quarter this year.
He said they expect to spend about P2.5 billion for the expansion of the 42.5- megawatt (MW) Sibulan hydropower project.
Earlier, the company said they expect to expand the Sibulan hydropower facility by 15 MW. The expansion is expected to be completed by 2012.
The company started the operation of the 42.5-MW Sibulan hydropower plant through wholly-owned subsidiary Hedcor Sibulan Inc. It was able to turn over P5.8 million to its host communities in Davao del Sur on March 31, 2011.
On the other hand, the company is setting aside some P1.9 billion for the development of a hydro project in Tamugan, Davao City.
The Tamugan project is being proposed to have a capacity of 27.5 MW.
At present, APC is one of the largest private renewable energy producers in the Philippines.
Its renewable energy portfolio includes geothermal and hydroelectric power plants located across the country.
Its hydroelectric generation assets include the Bakun plant in Ilocos Sur, the Magat plant in Isabela and the Ambuklao plant in Benguet.
The company also runs geothermal power plants in Tiwi in Albay and the Makban facility located at the Laguna-Batangas border.