DOE awards 25-year renewable energy contract to MisOr firm

CAGAYAN DE ORO CITY – The Department of Energy (DOE) has approved a 25-year solar energy operating contract for a firm in Misamis Oriental province, which broke ground on its power facility on Monday.

In a statement, DOE said FDC Green Energy Corporation, a subsidiary of FDC Utilities, Inc., will build the 20.75-megawatt Misamis Solar Power Project.

Juan Eugenio Roxas, president and chief executive officer of FDC Green, said the groundbreaking is a significant milestone in the company's transformative journey toward achieving a balanced energy portfolio.

"We aim to boost our renewable energy capacity in the coming years, underscoring our unwavering commitment to sustainability and innovation," he said.

Under the DOE terms, the project will install over 34,000 monocrystalline solar panels that are expected to generate approximately 30,450 megawatt-hours of clean energy annually, significantly bolstering grid stability in the region.

Strategically located within the Phividec Industrial Estate, one of the Philippines' major economic zones, the project benefits from optimal conditions for solar energy generation.

The solar power project will contribute to meeting the country's renewable portfolio standards, which require electric power industry participants to source 2.52 percent of their annual energy demand from eligible renewable facilities. (PNA)