SUMMARY
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MANILA, Philippines – The power industry arm of the Ayala conglomerate has “advance projects” in Mindanao that aim to address the power failure in the said region.
AC Energy Holdings Inc. of Ayala Corp. is part of a power project which is already in its “advanced stages” of development. AC head John Eric Francia said they cannot divulge other details about it, however.
The project will help provide power to Mindanao, which has suffered from a power crisis in years because of different factors, one of which is because the region’s electricity distribution grid was not connected to the grids of Luzon and Visayas.
Mindanao’s power crisis has caused power outages that average 8 hours per day. This is due to a power shortfall of 294 megawatts (MW). The region’s actual supply is only at 863 MW, which is not enough to cover demand at 1,157 MW.
Ayala executives have said they have alloted US$1-billion for power and infrastructure projects they will pursue up to 2016. Of this budget, up to 70% are set aside for power projects.
Aside from AC Energy Holdings Inc., Aboitiz group and the Alcantara group have both made their own investments in the power sector in Mindanao.
AboitizPower has a coal plant in Davao while the Alcantara group is set to put up a 210-megawatt coal power plant in Sarangani. – Rappler.com
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