News and Events

Filinvest breaks ground for 405-MW power plant in Misamis Oriental

FDC Misamis Power Corporation (FDC Misamis), together with the Municipal officials of Villanueva, held the groundbreaking ceremony for a new circulating fluidized bed coal thermal power plant in Misamis Oriental.  The 405 MW project, currently the biggest power project in Northern Mindanao, will meet the increasing demand for energy in the region and is expected to attract more investments and development for the province.

A time capsule laying ceremony and tree-planting activity were held within the PHIVIDEC Industrial Estate in the Municipality of Villanueva.  Municipal officials, headed by Mayor Julio Uy, together with Filinvest Heads, welcomed guests and officials from the province headed by Governor Yevgeny Vincente Emano, as well as from the neighboring municipality of Tagoloan, headed by Mayor Paulino Emano.

“I am very optimistic that the FDC Misamis Project will generate jobs and economic opportunities not only for Villanueva but for the entire province as well,” states Mayor Uy.  “We make it a policy in our town to ensure full cooperation with investors because development in Villanueva means development for Misamis Oriental.”

The festive groundbreaking rites was followed by a thanksgiving ceremony at Marco Hotel, Cagayan de Oro City where the keynote message was delivered by Gov. Emano.  “With the province’s intention to combine environmental preservation and development, all we want is to ensure we have socially responsible investors in Misamis Oriental and I sincerely believe FDC Misamis is one such partner.”

The power plant is a multi-billion peso investment by FDC Misamis that will use the latest in clean coal technology:  the circulating fluidized bed boiler technology.  Considered as the cleanest process to burning coal, the technology removes more than 95% of sulfur emissions.  It creates negligible nitrogen oxide levels while generating useful by-products such as calcium sulfate for cement production.

Also in attendance to the event are the heads of the First Northeast Electric Power Engineering Corporation of China Energy Engineering Group (NEPC China), NEPC Power Construction Corporation (NEPC Philippines), Alstom and Engineering Equipment, Inc. (EEI) who will be involved in the engineering, procurement and construction of the project’s world-class power equipment using internationally-accepted standards.

FDC Misamis President Jesus N. Alcordo, in his ceremonial toast, reiterated the company’s commitment towards environmentally sound projects and call for a balanced development.  “We are one with the government in ensuring reliable and competitively-priced power for one of our fastest growing regions in the country.  The Mindanao grid needs to have enough new capacity to ensure longevity of power sources without the fear of blackouts occurring in the region.”

Contractual commitments have been obtained from 17 electric cooperatives with franchise areas in Misamis Oriental and other parts of Mindanao, helping ensure the supply of reliable and competitively-priced power for the province and the rest of the region.  These agreements secure the contracted capacity for the project’s 2 units of 135 MW each.  Agreements with other customers are currently on-going for the 3rd unit.  Target commercial operations is early 2016.

FDC Misamis is a subsidiary of FDC Utilities, Inc. (FDCUI), the utilities arm of the Filinvest Group.

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