DBP allots P660M for NE mini hydro plant

By Jerry M. Hernandez

THE Development Bank of the Philippines (DBP) has earmarked funding support for the development of a 4.6-megawatt Dupinga Mini Hydropower project in Gabaldon, Nueva Ecija amounting to P660 million.
    In a statement, DBP President and Chief Executive Officer Emmanuel Herbosa said the project is in line with the state-owned institution's thrust to support new and renewable energy sources.
    "The funding support for the Dupinga Project is yet another contribution by the DBP in helping achieve the government's goal of 30 percent renewable energy share in the country's total energy mix by 2030," he said.
    The loan extended to Dupinga Mini Hydro Corp. (DMHC) is under the DBP's Financing Utilities for Sustainable Energy Development, which aims to contribute to the increased access to electricity services through the financing of utility-scale energy generation projects. The Dupinga Project is located within the ancestral domain of the Dumagat of Central Luzon and the Sierra Madre mountain range.
    "Ensuring the completion of this project through our funding support also assures that the welfare of our indigenous peoples and their community as well as the Sierra Madre are protected and remains sustainable," Herbosa added.
    The DBP is expected to release the first tranche from the approved loan to DMHC this week to fully mobilize construction activities and target completion by early 2024.
    DMHC is a partnership between Alternergy Holdings Corp. and Markham Resources Corp.
    The small-scale run-of-river hydropower project will harness water from the Dupinga River system and convert it as a clean, renewable electricity supply to Nueva Ecija 2–Area 2 Electric Cooperative Inc.
    It is expected to spur economic activities and improve the welfare of the community through additional income from royalties, taxes, and government shares for every kilowatt-generated output. The corporate social responsibility program is focused on assisting the Dumagats.