In an announcement made on Monday, DMCI Power Corp. (DMC) unveiled its plans to construct a wind power plant on Semirara Island in Antique.
This move comes as the company seeks to diversify its energy sources and introduce solar energy to supplement the island’s power supply, given that Semirara Island holds the largest coal reserve in the country.
The Consunji family’s conglomerate, through its power unit, aims to finalize the wind power capacity in the upcoming months.
Projections indicate a range between 8 to 12 MW, and the project is expected to be fully operational within 12 to 15 months, as stated in a regulatory filing released on Monday.
It is important to note that the project will be funded and executed independently by DMCI Power Corp.
DMCI Power acknowledges the favorable wind corridors present between Luzon and Panay, which encompass Semirara Island and extend towards the Cuyo Islands.
These areas exhibit excellent wind power density and speed, making them suitable for both utility-scale and village power applications.
DMC trades at P9.70 per share as of press time. The support level sits near P9.45, while the resistance is pinned near P10.60.
Dominant Range Index: BEARISH
Last Price: 9.7
VWAP: 9.69
Dominant Range: 9.66 – 9.67
Market Sentiment Index: BEARISH
13 of the 26 participating brokers, or 50.00% of all participants, registered a positive Net Amount
11 of the 26 participating brokers, or 42.31% of all participants, registered a higher Buying Average than Selling Average
26 Participating Brokers’ Buying Average: ₱9.67088
26 Participating Brokers’ Selling Average: ₱9.69129
8 out of 26 participants, or 30.77% of all participants, registered a 100% BUYING activity
8 out of 26 participants, or 30.77% of all participants, registered a 100% SELLING activity
Nonetheless, the company is currently engaged in the process of validating the wind resource estimates to pinpoint the optimal location and capacity for the wind project.
Antonino Gatdula Jr., the president of DMCI Power, emphasized the company’s intention to explore solar energy as well on Semirara Island.
However, he clarified that their current priority lies in wind power due to its demonstrated potential.
This assessment is based on a US-supported study conducted in 2001, which revealed that Semirara Island possesses some of the most promising wind resources in the Philippines.
Gatdula further elaborated that recent studies indicate wind power could potentially achieve a 33% plant utilization rate, surpassing solar energy’s projected utilization rate of 17%.
Additionally, the capital expenditure per megawatt for both wind and solar projects is relatively similar.
By investing in wind power and potentially incorporating solar energy, DMCI Power Corp. aims to advance the development of renewable energy sources on Semirara Island, thereby diversifying the island’s power generation and contributing to a more sustainable energy landscape.
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