Listed Alternergy Holdings Corp. expects to complete two hydropower projects, including the 4.6-megawatt Dupinga Mini Hydropower Project in Gabaldon, Nueva Ecija and the 17.4-MW Kiangan run-of-river hydro project by late 2024 to early 2025.
“We have the run-off-river project called Dupinga. And then there’s also a project called Kiangan run-off-river hydro. While we are in the driver’s seat in terms of completing those projects, we are minority shareholders in those,” Alternergy president Gerry Magbanua said.
The Dupinga hydro project is being developed by Dupinga Mini Hydro Corp. (DMHC), a partnership between Alternergy and Markham Resources Corp.
DMHC received P600 million in funding from the Development Bank of the Philippines (DBP) for the Dupinga project.
Meanwhile, Kiangan Mini Hydro Corp. (KMHC) is developing the 17.4-MW Kiangan run-of-river hydro project in Ifugao province.
KMHC is a partnership between Alternergy, Renova Renewables of Japan and Sta. Clara International Corp.
The DBP also granted a loan of P2.65 billion for the completion of the Kiangan hydro project, which will consolidate the hydropower output along the three rivers and usher in clean energy for the Tuwali people.
Hydropower projects have a long gestation process due to the volume of permits and clearances needed during the pre-development stage and the challenges associated with civil works.
