CAGAYAN DE ORO CITY (PIA)--The FDC Misamis Power Corporation, a subsidiary of the Filinvest Group, and the PHIVIDEC Industrial Authority have formalized a lease agreement to propel the expansion of the FDC solar photovoltaic power project.

FDC is currently developing a solar power project with an initial capacity of 11.5 megawatts within the PHIVIDEC Industrial Estate. The lease of an additional 7.2-hectare area aims to increase the solar project's capacity to 20 megawatts.

Juan Eugenio L. Roxas, President and CEO of FDC Utilities, Inc., said that the 20-MW capacity will connect to the grid, offering renewable energy to electric cooperatives to address their need in adherence to the renewable portfolio standard (RPS) requirements mandated by the Department of Energy.

The RPS policy mandates distribution utilities and electric cooperatives to source an agreed portion of their energy supply from eligible renewable energy (RE) resources. This initiative is poised to contribute significantly to the growth of the RE industry in the country. Under the latest RPS policy, the percentage of utilization of renewables for on-grid areas increased from 1 percent to 2.52 percent.

Roxas stated that their intervention is crucial in addressing the challenges faced by electric cooperatives in Mindanao, stressing the scarcity of renewable energy projects in the region. "The problem with electric cooperatives in Mindanao is that because of the lack of renewable energy projects, gustohin man nilang bumili ng renewable source ay wala. That is why we are coming in to provide," he said.

He cited a provision in the RPS circular, which said that only distribution utilities and electric cooperatives can purchase from new power plants, in line with the government's goal of strengthening the country's renewable capacity.

Lawyer Joseph Donato Bernedo, administrator of the PHIVIDEC Industrial Estate, meanwhile underscored the timeliness and relevance of the solar power expansion project. He emphasized its alignment with President Ferdinand R. Marcos, Jr.'s directive for the government to explore renewable energy options. (APB/PIA-10)