Alternergy unit secures DBP funding of Php600M for 4.6MW hydropower project

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Alternergy Holdings Corp., through Dupinga Mini Hydro Corporation (DMHC), has secured Php 600 million in financing from the Development Bank of the Philippines (DBP) to help it develop its mini hydropower project in 4.6 megawatts (MW) at Gabaldon, Nueva Ecija.

DMHC is the corporate vehicle of Alternergy and Markham Resources Corp. for the hydroelectric project.

DBP said funding for the Dupinga project would come under its Sustainable Energy Utilities Funding Program, which aims to help scale up energy access by funding power generation projects. in large scale.

DMHC seeks to complete the mini-hydro project by early 2024.

The service contract for the Dupinga hydroelectric project was awarded by the Ministry of Energy in 2010. The right to continue the development of the project was transferred to DMHC in 2017.

DMHC added that they have done extensive technical studies and public consultations and obtained the necessary permits. It has also sealed a Memorandum of Understanding (MOA) with the Katutubong Dumagat of Central Luzon and the Kaagapay ng Komunidad Corporate Socia, Responsibility (CSR) program to help maintain the Dupinga watershed, provide local jobs and help the host community in time. needs and emergencies.

Alternegery plans to develop 1,245 megawatts (MW) of renewable energy projects for its portfolio over the next five years. It recently filed an initial public offering (IPO) of Php 2.18 billion to finance its renewable energy projects.

The company, led by former Energy Secretary Vicente Perez Jr., will focus on wind, solar and run-of-river hydro projects.

Photo of Artelia group website




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