The Department of Energy (DoE) of the Philippines has allowed the Philippine small-sized utility company Citicore Power Inc. (CPI) to proceed with the pre-development stage of 5 proposed hydropower projects with a total power capacity of 2,300 MW in the Luzon island.
The pre-development stage includes permitting and feasibility studies and are expected to last between 3-5 years for each facility. Each of them is hydro project is estimated to cost US$2-2.5m/MW to build, which would correspond to a total investment of US$4.6-5.75bn.
CPI also has an existing capacity of solar PV projects totalling 100 MW in the Philippines, including in particular a 18 MW solar plant in Mariveles (Bataan), a 25 MW solar PV park in Silay City (Negros Occidental) and a 60 MW solar power facility in Toledo City (Cebu). The company aims to reach 1,000 MW of renewable capacity by 2020, including 500 MW of overseas solar projects (in Japan, Malaysia, Indonesia, Thailand, Vietnam, and Myanmar).
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