ICS Renewables Inc, a newly established biofuels firm, was awarded by the Power Sector Assets and Liabilities Management Corp. (PSALM) the rights to the hydro electric power plant in Sitio Pasalan, Bgy. Silab, Amlan, Negros Oriental. The company won the contract with a winning bid of $230,000.
The plant is currently providing only 30% of its rated capacity. ICS Renewables will initially invest P15 M in order to rehabilitate it to its designed capacity. Another P45 Million will be allocated to upgrade the plant, which they are estimating to take about 3 years to accomplish.
The Amlan Hydro Electric plant is a base-load power plant that was the first ever constructed in that province. It supplies power to the town of Amlan and nearby villages.
ICS Renewables is in the business of acquiring, developing, owning, leasing, subleasing, operating and managing real and personal properties using alternative fuels and other environment-friendly device or equipment.
Category: Hydro, Clean Energy
