Real estate developer to build 12 power projects in Mindanao

A Brown Company, Inc said projects will generate a peak 110 megawatts.

A Brown said the projects will provide additional power for A+ or green-rated electric cooperatives in Mindanao. One of its units, Peakpower Energy Inc., will implement the 12 projects under separate build-operate-maintain and transfer agreements for brand new bunker-fired engines that will last for 15 years.

A Brown said the planned facilities will address the lack of base load power in the Mindanao grid for the next two to three years. It will also allow cooperatives to meet the needs for peaking power.

After signing a power purchase and transfer agreement with South Cotabato II Electric Cooperative, a 20MW plant will be installed in General Santos City in South Cotabato, Mindnao in the next 12 months. A Brown is involved in the construction of a 135MW coal-fired power project in the province of Iloilo. The facility, to be commissioned in 2015, will fill the power supply gap in Panay island and the Visayas grid by 2016.

The company will also be involved in a 26MW hydropower project in Surigao province in Mindanao, and is currently awaiting the approval of its application for a renewable energy service contract.

A Brown is a publicly listed company in the Philippine Stock Exchange and serves as the holding company of the Brown Group of Companies. It is primarily engaged in the business of real estate development (high-end, middle-market to socialized) but has ventured into the utilities sector, particularly power generation and renewable energy. It is investing in the mining of precious metals, oil and gas.