DAVAO CITY- From 2018, Mindanao will be experiencing excess power supply with new power plants being completed. This according to Mindanao Development Authority Director for Investment Promotions and Public Affairs Romeo Montenegro.
He said that new power plants being set up in Mindanao will answer the current need plus the growth in demand. After which in 2025 if no power plants will be set up the power supply and demand will be equal.
This year, Mindanao will get an additional 550 megawatts from coal-fired plants these include; the 150 MW unit of the Therma South Incorporated Davao coal plant the San Miguel power plant in Malita will have two units of 150 megawatts each coming online this 2016.
However Montenegro said that new power plants must be put up by 2020 to anticipate for the growth of power consumption in Mindanao. Power demand is growing at 4.7% to 5.3% in Mindanao.
A reliable source of power is one of the pre-requisites in attracting investments to Mindanao. From 2011- 2016 investments to Mindanao hit around P50-billion to P60-billion as compared to P5-billion to P6-billion from 2001 to 2010. (PIA/RG Alama)