BusinessWeek MINDANAO Your daily business paper
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 131
Market Indicators
As of 6:32 pm Mar. 26, 2015 (thursday)
FOREX
PHISIX
US$1 = P44.83
7,871.10 points
8 cents
X
X Briefly 34.76 points
Pending RE projects MINDANAO has a total of 231 pending renewable energy (RE) projects, with a potential capacity of some 2,419 megawatts (MW), as of December 2014. Romeo Montenegro, Mindanao Development Authority (Minda) director of investment promotions and public affairs, said that these projects are at present on various stages of applications and are being monitored and facilitated through the OneStop Facilitation and Monitoring Center (OSFMC), a joint initiative between Minda, the Department of Energy (DOE), and concerned government agencies that aims to fast-track the approval of the projects. Most of these RE projects are hydro power projects with 178 still pending with a total of 1,631.09 MW.
Yellow alert THE Department of Energy placed Mindanao under a yellow alert because of the thin power reserves available in the island group. The National Grid Corporation of the Philippines said that Mindanao had 159 megawatts of reserve power, with 1,524 MW available and system peak demand projected at 1,364 MW. DOE Electric Power Industry Management Bureau Director Mylene Capungcol explained that one reason for the thin reserves was that the area’s coal-fired power plants were still being serviced.
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Auction to sell Steag’s 210-mw power starts
T
By IRENE DAYO, Staff Writer
HE PUBLIC auction process for the sale of Steag’s State Power, Inc. (SPI) 210 megawatts (MW) contracted capacity has formally begun.
This after the state-owned Power Sector Assets and Liabilities Management Corp. (PSALM) has published the required invitation to bid for the selection and appointment of an independent power producer administrator
(IPPA) for the Mindanao coal-fired plant located in Villanueva, Misamis Oriental. Based on said newspaper publication, PSALM required interested parties to submit a letter of interest by April auction/PAGE 11
Economic development in Lumbia airport expected THE United Nation (UN) Habitat program has expressed interest to develop a mixed-use concept of the old Lumbia Airport in Cagayan de Oro City as the city’s new extension project and economic growth area. The UN Habitat is expediting the i mp l e m e nt at i o n o f i t s program called Achieving Sustainable Urban
Development (ASUD) as it chosen Cagayan de Oro City as one of its pilot cities owing to its fast economic growth. Based on its presentation to City Mayor Oscar Moreno, the program aims to develop the 547-hectare old Lumbia Airport into housing projects, commercial, economic, and recreational areas. airport/PAGE 11
CONSTRUCTION BOOM. Workers fix metal bars in a construction site of a condominium along CM Recto Street in Davao City. mindanews photo by keith bacongco
Normin’s 2016 budgets get reg’l development body’s endorsement By PELETA B. ABEJO, Contributor
CONGRESSIONAL representatives of Northern Mindanao expressed support to the Regional Development Council (RDC-X)-endorsed budget proposals of 24 government agencies and eight (8) state universities and colleges in the region during the RDC-X Advisory Committee (RAC) meeting in Cagayan de Oro on Monday. In his opening message,
the city’s second district representative Rufus B. Rodriguez, the lead convenor of the committee meeting, urged everyone to work together in ensuring that the proposed budgets requested shall redound to the development of Region X as it positions itself as the number one region in the country. Presided over by RDC-X
Chair and Lanao del Norte Governor Mohamad Khalid Q. Dimaporo, the RAC expressed support to the RDC-endorsed budgets. The agency budgets with an aggregate total of P94.334 billion were presented by the RDC Sectoral Committee Chairs/Co-chairs. Mayor Maria Luisa D. Romualdo presented the requirement of the Macro and Development Ad m i n i s t r at i on S e c t or budgets/PAGE 11
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