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DOE accepts 6 proposals for Laguna Lake hydropower projects

GMA News Online logo GMA News Online 7/16/2017 Gutierrez, Angelo
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The Department of Energy (DOE) over the weekend said it has accepted at least six proposals for hydropower projects in the Laguna Lake.

"Right now, we have accepted six proposals, that means SC (service contract) applications over Laguna Lake. All of these projects would be pumped storage using Laguna Lake," Mario C. Marasigan, Director of the DOE's Renewable Energy Management Bureau, said.

Marasigan said the Laguna Lake can host some five to six power projects at 400 to 600 megawatts (MW) each, with the project cost estimated at $2.5 million per MW.

"The range of the power capacity of each project would depend on their respective feasibility studies. But at the end of the day, is there sufficient water from the Laguna Lake?" he said.

Among the firms that signified interest are Trans-Asia Renewable Energy Corp. (TAREC), a wholly-owned subsidiary of publicly-listed PHINMA Energy Corp., and Citicore Power Inc., a wholly-owned subsidiary of Megawide Construction Corp. —Jon Viktor D. Cabuenas/ALG, GMA News

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