PRIME Infrastructure Capital Inc. said two of its pumped storage projects recently received Certificates of Energy Project of National Significance (CEPNS) from the Department of Energy (DOE).
The company said the two projects are the Pakil pumped storage power project in Laguna and the Wawa pumped storage power project in Rizal with a joint project cost of $7.6 billion.
The Wawa project is being developed by Olympia Violago Water Power Inc. The project has an investment cost of $2.57 billion, a storage capacity of 6,000 megawatt hours (MWh) per day and a generating output capacity of 600 megawatts (MW).
Pumped storage hydro projects can support ancillary energy supply and energy storage requirements of the grid as it can continue dispatch of variable renewable energy as it stores excess capacity when there is an oversupply and dispatching the same when the supply goes back down.
The Pakil project in Laguna by Ahunan Power Inc. will have a storage capacity of 14,000 MWh per day, and a generating output capacity of 1,400 MW.
The project has an investment cost of $5.03 billion and is expected to be among the largest pumped storage power plants in Asia once completed.
Both projects will commence operations by 2030.
“…These are critical projects, essential to enable the energy transition and to enhance grid security through flexible energy generation,” said Guillaume Lucci, Prime Infra president and chief executive officer, in a statement.
“As we advance through the development phases of these two projects, Prime Infra remains committed to leveraging pioneering solutions that meet current energy demands and position the Philippines to effectively tackle the challenges of a dynamic energy landscape going through a critical transition,” Lucci added.
CEPNS are issued to energy projects found to have significant impact on the country’s energy sufficiency, security, reliability and stability, economic development, technological progress and environmental protection.
