RENEWABLE ENERGY developer Alternergy Holdings Corp. has began injecting power into the grid because it commenced business operations of its P1.7-billion run-of-river (RoR) hydropower plant in Gabaldon, Nueva Ecija.
“The beginning of the business operations of Balsik Solar and now Dupinga RoR Hydro completes Alternergy’s Triple Play portfolio of wind, solar and hydro renewable resources,” Alternergy President Gerry P. Magbanua said in an announcement on Monday.
“With hydro now online, our Triple Play strategy of diversifying revenues across complementary technologies is predicted to spice up Alternergy’s asset base and share value to our investors,” he added.
The hydropower facility is predicted to deliver 23,000 megawatt-hours (MWh) of electricity annually, supplying about 13,000 households under a 25-year power supply agreement with Nueva Ecija Electric Cooperative II – Area 2.
The newly energized facility is Alternergy’s second renewable energy plant commissioned this 12 months, following the 28-megawatt-peak (MWp) solar farm in Hermosa, Bataan, which began operations last month.
Eduardo Martinez Miranda, president of Alternergy Mini Hydro Holdings Corp., the corporate’s hydro subholding firm, said the corporate can also be exploring other shovel-ready RoR projects in Kiangan, Ifugao.
“That is one other challenge, but we’re looking forward to implementing the strategies, innovations and lessons learned from our already accomplished project,” he said.
Alternergy can also be ramping up two more projects expected to return online this 12 months: the 128-megawatt (MW) Tanay and the 64-MW Alabat wind power projects.
These projects will add 225 MW of latest generating capability, contributing to the corporate’s goal of reaching one gigawatt of capability by 2030.
On the local bourse on Monday, shares in the corporate rose by 4.23% to shut at P0.74 each. — Sheldeen Joy Talavera