Press Release: DMCI Power Investing P3.5B in Masbate, Palawan
August 23, 2021 at 09:54 pm
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COVER SHEET
A S O 9 5 0 0 2 2 8 3
SEC Registration Number
D M C I H O L D I N G S , I N C .
(Company's Full Name)
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(Business Address: No., Street City / Town / Province)
HERBERT M. CONSUNJI
8888-3000
Contact Person
Company Telephone Number
3rd Tuesday of May
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SEC 17-C
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Remarks: Please use BLACK ink for scanning purposes
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SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-C
CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER
1. August 23, 2021
Date of Report (Date of earliest event reported)
2. SEC Identification Number ASO95-002283
3. BIR Tax Identification No. 004-703-376
4. DMCI Holdings, Inc.
Exact name of issuer as specified in its charter
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Philippines
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(SEC Use Only)
Province, country or other jurisdiction of
Industry Classification Code:
incorporation
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3/F Dacon Building, 2281 Don Chino Roces Avenue, Makati City
1231
Address of principal office
Postal Code
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(632) 8888-3000
Issuer's telephone number, including area code
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Not applicable
Former name or former address, if changed since last report
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
No. of Shares Outstanding
Amount
Common Shares
13,277,470,000
Php13,277,470,000.00
Preferred Shares
960
960.00
TOTAL
13,277,470,960
Php13,277,470,960.00
11. Indicate the item numbers reported herein: Item 9
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Item 9. Other Matters
This is to inform the investing public of the following Press Release.
DMCI POWER INVESTING P3.5B IN MASBATE, PALAWAN
Off-grid electricity supplier DMCI Power Corporation (DPC) is spending around P3.5 billion to expand its generation capacity in the off-grid market. Around P2.7 billion will be used to construct a thermal power plant in Narra, Palawan while P800 million will be spent on a hybrid diesel-solar power plant in Cataingan, Masbate.
The Palawan plant will have a capacity of 15MW while the Masbate plant will have a combined capacity of around 12MW, 4MW of which will come from solar energy.
Target commercial operation of the 12MW plant is first quarter of 2022 while the 15MW is set to go online by second quarter of 2023.
"These investments are in response to the government's mandate to accelerate the exploration, development and utilization of renewable energy and indigenous fuel resources, thus decreasing our dependence on imported fuel," said DPC COO Antonino E. Gatdula, Jr.
The operation of the new thermal plant is also expected to lower the cost of electricity in Palawan, which will reduce the subsidy paid by all consumers.
Once operational, the Palawan and Masbate power plants will increase the company's installed capacity in the missionary areas from 136.42MW to 163.72MW.
DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid. Its off-takers include the electric cooperatives in Masbate, Palawan and Oriental Mindoro.
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SIGNATURES
Pursuant to the requirements of the Securities Regulation Code, the issuer has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DMCI Holdings Inc. published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 01:53:05 UTC.
DMCI Holdings, Inc. is a Philippines-based holding company. The Company is engaged in general construction, coal and power generation, real estate development, water concession, nickel mining and manufacturing. Its five major subsidiaries include D.M. Consunji, Inc. (DMCI), DMCI Project Developers, Inc. (PDI), Semirara Mining and Power Corporation (SMPC), DMCI Power Corporation (DPC) and DMCI Mining Corporation. DMCI is engaged in general construction services, as well as various construction component businesses, such as the production and trading of concrete products and electrical and foundation works. PDIâs core products include residential condominium units with resort-inspired amenities in mid-rise and high-rise developments in Metro Manila and other key areas in Luzon, as well as in Cebu and Davao City. SMPC is engaged in the exploration, mining, development and sales of coal resources on Semirara Island in Caluya, Antique. DPC is engaged in the business of a generation company.