KITAOTAO, Bukidnon – The proponents of the Pulangi V Hydro Electric Plant (HEP) project in Bukidnon is expected to be implemented in 2011 and hopes to contribute to the long-term solution to the power shortage being experienced in Mindanao.
Engineer Cerael Donggay, chief executive officer of Greenergy Development Corporation, said that despite minimal funding, the pre-development phase is going very smoothly that many foreign and local investors are strengthening commitments to fund this $300-million project in the future.
“There are many short and medium-term projects in the pipeline, but what makes Pulangi V different is that it is renewable energy, it will generate very cheap power and its project proponents have integrated social and environmental safeguards as early as the project pre-development stage,” he said.
Donggay said that with the predevelopment phase going smoothly, many foreign and local investors have signified their interest in the project.
He said that with the urgency of solving the power problem in Mindanao, the project could be fast-tracked to four years. Hydroelectric plants usually take five years to construct.
According to research released by the Pulangi V Management Team in March 2010, Pulangi V Hydro will avoid burning 1,882,500 barrels of fuel oil for power and help save the Philippines some P10.95 billion per year.
Engineer Raul Alkuino, president of the First Bukidnon Cooperative (Fibeco), said that the pre-development stage of the project is progressing very well.
He also said that they are addressing the “minutest details” as far as social and environmental impact of the project is concerned.
Of the 22 communities affected, 18 have already given their support.
These communities are in the Bukidnon towns of Kitaotao, Kibawe, Dangcagan, and Damulog and Roxas in North Cotabato.