OVPI and PowerChina sign deal for 500MW hydropower development in Philippines
Olympia Violago Water & Power (OVPI) has signed an agreement with Power Construction Corporation of China (PowerChina) to design and develop a proposed 500MW Wawa pumped-storage hydropower project (Wawa PSP) in the Philippines.
To be located in the Rizal Province, the new project is being jointly built by San Lorenzo Ruiz Builders and Developers (SLRB) and renewable energy independent power producer (IPP) Equis Energy.
PowerChina Asia-Pacific president Ji Xiaoyong said: “PowerChina is excited to be selected as the engineering, procurement, and construction (EPC) contractor for this landmark project.
“PowerChina, as one of the top players in the global power industry, will work together with our client to utilise the state-of-art technology and deliver a successful PSP project to Filipinos.”
With an estimated total project cost of $1bn, Wawa PSP will serve as an energy storage asset capable of supplying 500MW of mid-merit and peak power to the Philippine energy market. The facility will also significantly assist in grid management, in addition to delivering cheap and reliable peaking power.
OVPI and SLRB chairman Oscar Violago said: “OVPI will deliver a project of national significance with best technology that will not only provide gainful employment for the local communities but also will ensure a stable supply of energy for generations of Filipinos to come.”
Expected to begin construction by the end of this year, the pumped-storage hydropower project will be commissioned in early 2022.