A Swedish firm plans to put up hydro power plants in Nueva Ecija and Mindoro with a combined capacity of 71 megawatts.
Jan Pettersson, director of North Investors AB, said that his company has tied up with Filipino firm Constellation Energy for the hydro projects.
He said the program calls for the building of a 4 MW plant in Nueva Ecija and two plants in Mindoro, one with a capacity of 28 MW and the other with 39 MW.
All the plants will be run-of-the-river system where the natural flow and elevation drop of a river are used to generate electricity.
He said cost of the projects has yet to be determined. The company is planning to start construction in 2012.
Pettersson said North Investors will own 40 percent of the joint venture with Constellation.
The hydro project is the company’s first venture in the Philippines.
“Sweden has long history of hydro power. We have looked into doing projects in Sweden but the country is overdeveloped (in hydro power). There is hardly any opportunities there,” he said.
About half of the power in Sweden is generated by hydroelectric plants, he added.
Pettersson said the company has teamed up the Technological University of the Philippines.
TUP students and professors will visit the sites in the first quarter of 2011 to join Swedish experts in conducting feasibility studies.