Clean energy company Asiapac Green Renewable is set to launch four mini hydro projects in Indonesia with an investment of PHP1.67bn ($40.3m).
The four projects in Mountain Province in Northern Luzon are 2.4MW Dicapan plant, the 2.75MW Upper Siffu project, the 3MW Lower Siffu and the 2.4-MW Tanudan plant.
In addition, the company has secured eligibility for fiscal incentives from the Bank of Investments (BOI) Investment Priorities Plan.
As per the Renewable Energy Act of 2008, renewable energy investors are granted income tax breaks and access to feed-in tariffs.
Meanwhile, Asiapac will invest PHP369.8m ($8.93m) for Dicapan project in Barangay Lubon, Tadian, while further PHP400.7m ($9.68m) for Upper Siffu in Barangay Balangao, Natonin.
Other two projects, Lower Siffu in Barangay Balangao and Tanudan in Barangay Lias, Barlig will cost PHP426.8m ($10.3m) and PHP449m ($10.8m), respectively.
These projects will have a combined power generation capacity of 10.55MW with annual generation capacity of 39.94 millionKW. They are scheduled to commence operations in March 2016.
