DMCI Power Corp. will commence operations of a 12-megawatt (MW) wind farm on Semirara Island in Antique province by the first quarter of 2025, its sister company said on Monday.
“We anticipate annual savings of P200 million by sourcing energy from this facility, which would also help reduce our emissions,” Semirara Mining and Power Corp. (SMPC) President and Chief Operating Officer Maria Cristina C. Gotianun said during the company’s annual stockholders’ meeting.
The wind farm has a total project cost of P640 million.
DMCI Power has stated that the wind corridors between Luzon and Panay, including the Semirara and Cuyo Islands, have abundant wind power density and speed for a utility-scale wind project.
SMPC also expects Sem-Calaca Power Corp. unit 2 to operate at its full capacity of 300 MW in the second half of the year, assuming the “successful and timely generator swap.”
Ms. Gotianun said that the power plant was operating at an average capacity of 175 MW last year.
“We anticipate strong performance from the power segment, potentially offsetting anticipated weakness in the coal business due to unfavorable market conditions,” she said.
For the first quarter, SMPC posted an attributable net income of P6.5 billion, down 28% from the previous year due to lower selling prices for coal and electricity.
The company’s consolidated revenues decreased by 11% to P18.4 billion following the “softer market prices for both coal and power segment coupled with higher proportion of non-commercial grade coal shipments.”
SMPC mentioned that it is the only power producer in the Philippines that owns and mines its own fuel source. The company has an installed capacity of 900 MW with around 600 MW more in the pipeline.
Shares of the company on Thursday fell by P0.10 or 0.31% to close at P32 each. — Sheldeen Joy Talavera
