TAGOLOAN, Misamis Oriental – FDC Green Energy Corporation, a subsidiary of FDC Utilities, Inc., proudly announces the groundbreaking of its 20.75-megawatt Misamis Solar Power Project.
"This significant milestone marks the beginning of a transformative journey toward achieving a balanced energy portfolio for the Filinvest Group," said President and CEO of FDC Green Juan Eugenio L. Roxas. "We aim to boost our renewable energy capacity in the coming years, underscoring our unwavering commitment to sustainability and innovation," Roxas adds.
The Misamis Solar Power Project is a strategic investment and will play a crucial role in Filinvest's long-term energy strategy. This Project sets the stage for future developments in line with the company's dedication to a greener and more sustainable future.
Awarded a 25-year solar energy operating contract by the Department of Energy (DOE), the Project involves installing over 34,000 monocrystalline solar panels. These panels will generate approximately 30,450 megawatt-hours of clean energy annually, significantly bolstering grid stability in the region. This initiative supports the expected 5.5 percent annual peak demand growth projected by the DOE until 2030.
Strategically located within the PHIVIDEC Industrial Estate, one of the Philippines' major economic zones, the project benefits from optimal conditions for solar energy generation. The flat terrain, high solar yield, and proximity to the National Grid Corporation of the Philippines substation make this location ideal for large-scale renewable energy development. Beyond its technical advantages, PHIVIDEC represents a unique opportunity to establish an RE hub in Mindanao. This development can further attract potential businesses that are conscious of their need for clean energy sources.
The impact of the Misamis Solar Power Project extends beyond energy production. It will contribute to meeting the country's Renewable Portfolio Standards (RPS), which require electric power industry participants to source 2.52% of their annual energy demand from eligible renewable facilities. This aligns seamlessly with the government's target of increasing the RE share in the power mix to 35% by 2030.
Additionally, the Project will not only provide a green and cost-effective energy solution for PHIVIDEC locators but is also expected to generate over 200 jobs during the construction and maintenance phases, offering valuable livelihood opportunities for the local community.
As FDC Green embarks on this groundbreaking journey, it reaffirms its commitment to sustainable, balanced, and resilient energy generation. This Project is a testament to the power of collaboration and a shared vision, guiding the country towards a greener future.
