Filinvest Development Corporation's Utility Arm Announces Growth Plans for the Power Business

FDC Utilities, Inc. (FDCUI), a wholly owned subsidiary of Filinvest Development Corporation (FDC), plans to triple its generating capacity from the current 411MW to 1,350MW by 2033, with 71% of the increase expected to come from renewable energy.

The plan supports government efforts to ensure energy security in the country where peak demand is expected to grow by 5.5% annually until 2030 based on the Power Development Plan (2023-2050) of the Department of Energy. It also supports the national government’s drive to increase the share of renewable energy in the country through its projects.

“We are committed to doing our part in ensuring that our country has a stable supply of energy for both the short and long term. This will support the country’s economic development and build its resiliency against unexpected adverse changes in the supply of energy,” said FDCUI President and CEO Juan Eugenio Roxas.

Roxas added that, “While thermal power remains a large and vital component of our country’s energy mix for the medium term, we also support that renewable energy is the way forward, and we are aligning with the DOE’s plan to build more renewable energy projects.”

FDCUI is currently building its first large-scale solar power project within the PHIVIDEC Industrial Estate in Misamis, Oriental. With an estimated investment of over half a billion pesos, the 20MW Misamis Solar Power Project can inject 30,450 megawatt-hours of clean energy annually into the grid.

Filinvest subsidiary Cotabato Sugar Central Co., Inc. (CSCCI) has also completed and commenced commercial operations of its 3.4MW biomass power project in Barangay Kilada, Matalam, North Cotabato. Likewise in the pipeline are the combined 15MW commercial and industrial solar projects in Cebu and Laguna and the 11MW Cotabato Solar Power Project, targeted for completion in 2025 and 2026, respectively. 

Recently, Filinvest's FDC Renewables Corporation was awarded by the Philippine Board of Investments (BOI) with a Green Lane Certificate of Endorsement to fast-track the development of its 33.4MW Pampang Hydroelectric Power Project located in the municipalities of Santa Fe, Nueva Vizcaya, and San Nicolas, Pangasinan.

In keeping with the company’s commitment to energy security and to avert a situation where the country may experience continuous brownouts in the near future, as already manifested by the numerous yellow and red alerts regarding the sufficiency of our power supply, FDCUI will build its committed 135MW baseload capacity expansion project in Misamis Oriental, previously approved by the Department of Energy in 2019.

FDCUI recently signed an agreement with Northeast Electric Power Engineering Corp. (NEPC) to build the additional capacities from both renewable and baseload projects – the 20MW PHIVIDEC solar project and the 135MW Misamis expansion, which are expected to serve the energy needs, not only of the Mindanao region but also of Luzon and Visayas. FDCUI’s existing plants utilize the Circulating Fluidized Bed boiler technology which provides higher plant reliability and higher steam generator efficiency. Filinvest's commitment to sustainability led the company to adopt this technology which costs more to build and operate but significantly reduces carbon emission intensities.

FDCUI's initiatives align with government efforts to strengthen the country’s energy security and increase the adoption of renewable energy sources.

Filinvest Development Corp. (FDC) is one of the leading, stable, and diversified conglomerates in the Philippines. Through its diverse businesses, FDC has established a strong reputation as a dependable partner in economic development. FDC currently has strategic holdings in key industries such as real estate development and leasing, banking and financial services, hotel and resort management, power generation and sugar.

FDC aims to grow this legacy of success by continuing to strengthen its position in the industries where it competes and embarking on new endeavors that will bolster its role in nation building.

FDC Utilities, Inc. (FDCUI) is the utility arm of the Filinvest Development Corporation (FDC) and acts as the holding company for all the utility projects of the Filinvest Group. As one of the Philippines’ leading conglomerates, with significant investments, experience, and expertise in real estate, banking, hospitality, and sugar, the Filinvest Group attempts to diversify its businesses and further its reach through FDCUI to make an impact on the critical water and energy sector. 

​FDCUI aims to bring water and electricity to potential growth circles in the Philippines, and it endeavors to further enhance development in communities all over the country while enhancing synergy among the subsidiaries of the Filinvest group. The company’s overall strategic goal is to achieve sustained growth through the next years and therefore strives to put up multiple water supply and power generation projects across the country. The company is currently pursuing solar power projects in Mindanao under the subsidiary FDC Green Energy Corporation.