First Gen Mindanao Hydro Power, a wholly owned subsidiary of First Gen, has secured approval from the Department of Energy (DOE) to develop a portfolio of 80MW hydroelectric projects in Philippines.
The five hydro projects include 8MW Tumalaong hydro plant, 8MW Bubunawan hydro project and 20MW Tagoloan hydro project in Bukidnon and 14MW Cabadbaran hydropower plant and 30MW Puyo hydropower plant in Agusan del Norte.
The energy department has already approved the conversion of First Gen’s projects in Bukidnon and Agusan del Norte from the pre-development stage to the development and commercial stage.
The hydro project developer has planned to invest $120m for Puyo hydro plant in Jabonga, Agusan del Norte, $100m for the Bubunawan hydro project and additional $40m for the 10-MW Cabadbaran hydro project in Agusan del Norte, according to Manilastandardtoday.com.
These projects are scheduled for construction within 2013.
First Gen president Francis Giles Puno was quoted by the website as saying that the company had commenced civil works on the hydro projects in Mindanao.
"We have started to construct the access roads…We will start constructing by end of 2013 or next year," Puno added.