Japan-based SymEnergy Incorporated, a renewable energy (RE) developer, has announced plans to develop a hydroelectric power plant in the Philippine’s northern province of Ifugao to solve electricity shortages and high utility costs in the region. Construction work on the 560 kW hydropower plant will commence at the end of November 2021 with operations due to start in July 2023. Construction costs for the project haven’t been released yet.
The power plant will be built, operated, and managed by a joint venture (JV) between SymEnergy, Ifugao Electric Cooperative Incorporated and Philippines-based Alfalfa Construction Incorporated. A feed-in tariff system will be used to deliver the electricity generated by hydropower plant to the state-run National Transmission Corporation (TransCo).
SymEnergy has not disclosed its exact share in the JV although it has been mentioned that it is a minority share.