Filinvest gears up to triple power business

Gotianun-led Filinvest Development Corp. is charting a course to grow its power business in the long term, with renewables at the forefront of the expansion.

- BRIX LELIS

FDC Utilities Inc. (FDCUI), the power arm of the Filinvest Group, wants to achieve a generating capacity of 1,350 megawatts by 2033, more than triple the current capacity of 411 MW.

Filinvest said about 71 percent of the additional capacity would come from renewable energy (RE).

“This will support the country’s economic development and build its resiliency against unexpected adverse changes in the supply of energy,” FDCUI president and CEO Juan Eugenio Roxas said.

The company’s expansion fits well with the government’s target of increasing RE share in the power generation mix to 35 percent by 2030, 50 percent by 2040 and over 50 percent by 2050.