The publicly listed San Miguel Corp. is reportedly planning to develop up to 10,000 MW of renewable energy in the next 10 years. Although the company’s plans are still in the drafting process, their direction is well-defined towards the development of a cleaner and environment friendly technology, claims a source familiar with the matter.
The news came to light when Ramon Ang, president and COO of San Miguel Corporation, announced the company’s interest in wind, battery storage, ocean tide and hydropower technologies as an addition to its renewable energy portfolio.
Incidentally, in December 2009, SMC’s power unit subsidiary Strategic Power Development Corporation acquired the self-reliant power production administrator (IPPA) to execute the San Roque Power Plant.
As per sources, since the cost of solar technology has been on a heavy decline, its developments have been restrained not just the site acquisition but also the level of generation it can produce for the grid. The company also announced its plans to seek strategic partners, preferably Asian companies for the planned solar installations.
Reportedly, the company has a very good wind profile which can put up with the installation of a huge capacity. Luckily, the land for the project is already owned by SMC, said Ang avoiding further information on the same.
SMC is in talks of expanding its existing battery energy storage facility and building a new one. In Masinloc, the company is looking to put up as many battery storage units as possible, to increase the capacity.
Lately, SMC bought the Masinloc coal-fired thermal plant, along with Masinloc Battery in Zambales for $1.9 billion. The company has also acquired the Negros Occidental based Kabankalan battery storage system.
Reports state that an ocean tidal project of 1,200 mega watt is also in the making. As per the company’s studies, the project is capable of producing about 18,000 megawatt of renewable energy using ocean tidal waves in the Philippines.