An official of the government agency mapping out economic strategies for Mindanao said he expects a flood of investors lured next year by the island’s stable power supply.
The optimism is electrified by a report of the Mindanao Power Monitoring Committee (MPMC) that some 580 megawatts (MW) will be added to Mindanao’s current power supply inventory by 2015.
We are happy to note that we are starting to see a surplus of electricity supply in Mindanao when new large- capacity power generators start operation next year, said Romeo Montenegro, Mindanao Development Authority (MinDA) director of investment promotions and public affairs.
Montenegro identified the new power generators as the AboitizPower/Therma South 300MW Coal-fired Energy Project in Barangay Binugao, Toril, Davao City and Barangay Inawayan, Sta. Cruz, Davao del Sur; Sarangani Energy Corporation’s 200MW Southern Mindanao Coal-fired Power Station in Maasim, Sarangani; the 30MW Puyo Hydroelectric Power Project of the First Gen Mindanao Hydropower Corp. in Jabonga, Agusan del Norte and the 300MW SMC Davao Power Plant Project of San Miguel Consolidated Power Corporation in Malita, Davao del Sur.
While Luzon braces for a precarious power situation next year, Mindanao will be starting to generate enough power for its needs, earlier said Luwalhati Antonino, chair of the Mindanao Development Authority (Minda), during the Mindanao Power Stakeholders Dialogue held recently in Davao City.
At a recent press briefing, Montenegro said stable power supply would usher in a positive business climate for Mindanao to lure more investors.
He adds that unstable power supply had hobbled past efforts to sell Mindanao to investors.
The question, What about your power supply?, is the dreaded query by foreign investors that local promoters could not answer during sales missions abroad.
The power scenario next year, Montenegro told newsmen, would be different with Mindanao expected to enjoy stable supply from the new power generators. JOANNA C. BALANZA