Alternergy’s Dupinga Mini Hydro Corp. (DMHC) expects to complete its 4.6 megawatt Dupinga mini hydropower project located in Gabaldon, Nueva Ecija by early 2024.
DMHC is a partnership between Alternergy Holdings Corp., a renewable energy pioneer led by former energy secretary Vicente S. Pérez Jr., and Markham Resources Corp., a renewable energy company headed by Francisco Tiu Laurel of the Frabelle Group.
Alternergy has developed 67 MW of operating assets in wind and solar and an additional 62 MW of hydro and solar projects under construction.
With robust expansion plans in the next five years, Alternergy aims to develop up to 1,245 MW of additional wind, offshore wind, solar, and run of river hydro projects.
DMHC recently obtained P600 million funding from the Development Bank of the Philippines (DBP) for the Dupinga project.
“We are pleased to receive DBP’s approval of financing as it speaks confidence in our Dupinga project and our commitment to harnessing renewable energy,” DMHC president and CEO Eduardo Martinez-Miranda said.
He said 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.
The Dupinga project was awarded the hydropower service contract by the Department of Energy (DOE) in 2010. The right to further develop the project and utilize the hydro resource was transferred to DMHC in 2017 upon approval by the DOE.