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July 17, 2017

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.

By Lopamudra Roy

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.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
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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.”

"PowerChina is excited to be selected as the engineering, procurement, and construction (EPC) contractor for this landmark project."

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.

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Free Report
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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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