In these past few days came the good news of two renewable energy projects being started in the Mindanao Region. These two projects are Hedcor’s Sibulan Hydropower plant in Sta Cruz, Davao and a new geothermal well tap in Philippine National Oil Company (PNOC)-Energy Development Corporation’s Mindanao Geothermal Exploration Field at Kidapawan.
The hydro power plant will add an additional 42.5 MW to the Mindanao grid while the new Geothermal Power Plant is estimated to produce 50 MW.
President Gloria Macapagal Arroyo also signed an order which creates a special economic zone around the Geothermal Power Plant. With the promise of cheap electricity and other perks issued by the government, this will hopefully entice investors to come into the area and build businesses there. The Executive Order has been entitled : Generating Investments in Geothermal Areas (Giga.)
The communities around the area earmarked for power plant construction will also benefit directly from the royalties issued by the power plants in the form of cheaper electricity.
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