Filinvest Development Corporation (FDC), through its newest subsidiary, FDC Utilities, Inc. (FDCUI), is progressively re-entering the power generation market and joining the water distribution and treatment market in 2012.
Since its incorporation in December 2009, FDCUI has been building its portfolio of clients for power generation and water distribution services in key growth areas in the country. FDCUI signed an Electric Power Purchase Agreement with Camarines Sur II Electric Cooperative, Inc. (CASURECO II) for a total of 40 megawatts (net of 32 MW) over a 25-year period. In addition, the company is evaluating a potential water desalination facility to address the water requirements of a key business district in the Visayas.
Presently, FDCUI is pursuing multiple power generation projects in Luzon, Visayas and Mindanao employing the latest in clean fuel technology with close to 40% of the total targeted capacity for the projects located in Mindanao. FDCUI is also in the process of evaluating a hydro power plant and mine mouth potential in Luzon. The company also plans to participate in the retail electricity market through its affiliate, FDC Retail Electricity Sales Corporation.