Filinvest Group Expands Solar Power Project in PHIVIDEC Industrial Estate, Boosting Capacity by 95% to 19.78 MW

In a significant move towards renewable energy expansion, the Filinvest Group has announced plans to increase the capacity of its solar power project in the PHIVIDEC Industrial Estate located in Misamis Oriental by 95%. The project, spearheaded by Filinvest subsidiary FDC Green Energy Corporation (FDCGEC), will see its capacity grow from 11.5 MW to 19.78 MW following comprehensive feasibility studies conducted by the company.

Juan Eugenio L. Roxas, President and CEO of Filinvest’s power arm, FDC Utilities, Inc., expressed enthusiasm about the project’s expansion, emphasizing its alignment with the Filinvest Group’s mission of enabling Filipino communities to achieve energy security and sustainability. Roxas highlighted the positive outcome of the feasibility studies as the driving force behind the decision to increase the project’s capacity.

The expanded project will involve the installation of over 34,000 monocrystalline solar panels, capable of injecting 30,450 megawatt-hours of clean energy annually into the grid. This increase in renewable energy capacity will aid electric power industry participants, including electric cooperatives, in meeting the Renewable Portfolio Standards (RPS) requirements set by the Department of Energy. The RPS mandates participants to source 2.52% of their annual energy demand from eligible renewable energy facilities, supporting the country’s goal of increasing the renewable energy share in the energy mix to 35% by 2030.

Highlighting the Filinvest Group’s proactive approach towards energy sustainability, Roxas noted the company’s commitment to supplying the energy security requirements of the communities it serves, especially in anticipation of peak demand growth forecasted by the Department of Energy.

The PHIVIDEC Industrial Estate, recognized as one of the country’s major economic zones, hosts numerous manufacturing and industrial corporations contributing significantly to the national economy.

FDCGEC has recently updated its land lease agreement with the PHIVIDEC Industrial Estate, acquiring an additional 7.2 hectares of land to accommodate the expansion of the solar power project.

Upon completion, the expanded project is expected to deliver over 21,000 tons of CO2 savings annually, aiding PHIVIDEC locators in reducing the environmental impact of industrial operations while adopting sustainable and cost-effective energy solutions. Furthermore, the project is anticipated to create more than 200 jobs during construction and maintenance, providing livelihood opportunities for nearby residents.

FDCGEC has already secured the necessary permits and is currently undergoing a system impact study (SIS) conducted by the National Grid Corporation of the Philippines.