OVPI selects POWERCHINA as construction partner for 500MW Wawa Pumped-Storage Hydropower Project
Renewable energy developer Olympia Violago Water & Power, Inc.
(OVPI) has signed an agreement with the Power Construction Corporation
of China (POWERCHINA) for the design, procurement and construction of
the proposed 500MW Wawa Pumped-Storage Hydropower Project (Wawa PSP) in
Rizal Province, the Philippines. The Wawa PSP is being developed by San
Lorenzo Ruiz Builders and Developers (SLRB) and Equis Energy (Equis),
Asia-Pacific's largest renewable energy Independent Power Producer
(IPP).
Wawa PSP, with an expected total project cost of USD 1bn,
is an energy storage asset capable of delivering 500MW of mid-merit and
peak energy to the Philippine power market. The project will greatly
assist in grid management while also providing cheap and reliable
peaking power, significantly contributing to the Philippines
government's push to triple renewable energy generation capacity by
2030. The project is expected to start construction by the end of 2017
with commissioning planned for early 2022.
David Russell, Equis
Chairman, said, "The Wawa pump storage project is one of the
Philippines' most strategically important power generation assets in
terms of ensuring the immediate reduction of power prices. Since our
founding in 2012, Equis Energy has completed 100% of the power projects
on which we have commenced construction, an enviable track record we
attribute to our strong commitment to building expert local management
teams that understand how to engage with local stakeholders."
Oscar
Violago, Chairman of OVPI and SLRB, 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."
Ji
Xiaoyong, president of POWERCHINA Asia-Pacific, said, "POWERCHINA is
excited to be selected as the 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 utilize the state-of-art technology
and deliver a successful PSP project to Filipinos."
About Equis EnergyHeadquartered
in Singapore, Equis operates from 15 Asian offices, employing 272
professionals. Equis is the largest renewable energy IPP in the
Asia-Pacific region and as at 27 March, 2017, owned 97 renewable energy
assets, totaling 4.4 GW across Australia, India, Indonesia, Japan, the
Philippines, Taiwan and Thailand. In addition to its current portfolio
of 4.4 GW, Equis has a further 74 assets and 6.7 GW under development.
About San Lorenzo Ruiz Builders and DevelopersSLRB
together with Calenergy Phils., subsidiary of MidAmerican Energy
Holdings Co., USA pioneered the construction of the US$680 million
Casecnan multipurpose project that now irrigates 137,000 new hectares of
rice land in Nueva Ecija while producing 150 MW of hydropower.
About PowerChinaPOWERCHINA
provides comprehensive and full-range services from planning,
investigating, designing, consulting and civil works construction, to
M&E installation and manufacturing services in the fields of
hydropower, thermal power, new energy and infrastructure. In 2016,
POWERCHINA ranked 200th in the Fortune Global 500, and also ranked 6th
in the Engineering News-Record's Top 250 Global Engineering Contractors.
It is the world's largest power EPC contractor. POWERCHINA has
possessed assets totaling USD 77.1 billion and 210,000 employees.
For more information, please visit:
http://equisenergy.com