PhilNewEnergy, Inc., a joint-venture company formed by Michigan Power Inc (MPI), a wholly owned unit by Ayala Corporation, and Diamond Generating Asia Ltd (DGA), a unit of Mitsubishi Corp. is seriously considering to put up a 40-megawatt solar power project in Laguindingan, Misamis Oriental. I downloaded this info from the Department of Energy website.
Ayala Corp. had earlier invested 112.5 million pesos ($2.6 million) in new capital into MPI to explore opportunities in renewable energy and to enter into possible joint ventures. MPI will own 60 percent of PhilNewEnergy and DGA will hold 40 percent.
PhilNewEnergy, Inc. officially submitted to the Department of Energy its application for the Laguindingan Solar Power project last June 10, 2011 for endorsement to DOE Review Committee’s evaluation.
I believe this will cover the power requirements of Laguindingan Airport and its surrounding areas which are expected to benefit from the airport’s operations.