Another company sets eyes on renewable energy
Posted on June 8th, 2009
More companies are getting interested in the renewable energy industry. The latest to test the waters in this industry is the Conal Holdings Corp, a subsidiary of the Alcantara’s Group who’s planning to invest at least $35 million in mini hydro-electric projects in Siguil River, Saranggani province.
Luis R. Ymson Jr., CFO of Conal Holding’s parent firm Alsons Consolidated Resources Inc. said “We want to build small hydro projects near our 200-megawatt coal fired power plant in Saranggani.†He said the mini hydro facility would have a capacity of only 17 MW as this would be the run-off-the-river type.
Ymson said the venture would only entail minimal investments since it is only a small-scale hydro power project and it does not call for the construction of a dam. The company was however seeking project financing, both from private and government financial institutions.
“This may be funded easily as this can qualify as a renewable energy project, which a lot of financial institutions may be interest and willing to finance. We are also checking if the DBP (Development Bank of the Philippines) has a specific facility for these types of projects,†Ymson added.
He further said that the company is also looking at two more mini hydropower projects. One is located in the Negros area, where they were already in talks with prospective partners, while the other one is located in South Cotabato.
Ymson also said that the company’s interest at present is only in mini hydro power projects. He said they have no intention of tapping into other renewable energy sources such as wind, ocean or biomass.
