North Investors to Build Hydro Power Plants in Philippines

Sweden-based, North Investors announced that it has partnered with Constellation Energy, to establish hydro power plants in Mindoro and Nueva Ecija, Philippines. The combined capacity of the plants will be 71 MW.

North Investors has planned to build one hydro power plant with 4 MW capacity in Nueva Ecija, and two plants in Mindoro with 28 MW and 39 MW capacities.

The hydro power plants will be run-of-the-river systems, in which the elevation drop and natural flow of the river will be used to produce electricity. Construction for the plants will commence in 2012. In the joint venture with Constellation Energy, North Investors will hold 40%. North Investors has also collaborated with Technological University of Philippines to conduct feasibility studies for the projects.

The director of North Investors, Jan Pettersson stated that though Sweden has enough hydro power potential, there is no new opportunity. The country is overdeveloped in the hydro power industry. This is the first business venture for the company in Philippines, he added.