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San Miguel Global Power (SMGP), led by Ramon Ang, is investing P89 billion to develop two large pumped storage hydropower (PSH) projects in Benguet and Pangasinan.
Two 800-megawatt (MW) pumped storage projects are proposed by San Roque Hydropower Inc. (SRHI), a unit of SMGP, according to documents filed with the Department of Environment and Natural Resources (DENR).
The first project is the San Roque West site, which spans Barangays San Roque and San Manuel in Pangasinan, as well as Barangay Ampucao in Itogon, Benguet, covering a total area of 112.94 hectares. This project is valued at P46.29 billion, with the planned construction of a dam, power waterways, a powerhouse, transmission lines, as well as access roads and tunnels.
Meanwhile, the San Roque Lower East pumped storage project is valued at P42.37 billion. Covering 123.63 hectares across Barangays San Felipe East in San Nicolas, Pangasinan, and Dalupirip in Itogon, Benguet, the facility features a design similar to its West counterpart.
In 2014, San Roque Hydropower Inc., a subsidiary of SMGP, received approval from the Department of Energy (DoE) to conduct a feasibility study for the 400-MW San Roque Lower East project. Subsequent evaluations led to the capacity being increased to 800 MW.
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Balancing the energy mix
Because renewable energy capacity is set to grow under the government’s green energy auction program, SMGP noted that PSH is essential as a “grid-balancing solution.” This technology helps manage the intermittent nature of solar and wind power while supporting the country’s goal to reduce reliance on coal.
“With the country’s shift toward variable renewable energy, challenges such as intermittency and mismatches between supply and demand arise, particularly during peak periods,” the company added.
SMGP further noted the other benefits of pumped storage hydropower, highlighting its capacity to store large amounts of energy and quickly respond to fluctuations, which helps improve grid stability.
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Diversified energy portfolio
The Energy Regulatory Commission reported that San Miguel Corp. led the power generation sector in 2024, holding a 22.4% market share.
Recently, SMGP revealed that its subsidiary, Mariveles Power Generation Corp., is developing a 600-MW circulating fluidized bed coal-fired power plant in Bataan, with a project budget of P34.4 billion.
The company is also targeting the Masinloc power plant in Zambales for expansion, planning to add two 350-MW coal-fired units. The P15.8-billion project aims for completion between this year and 2026.
When it comes to renewable energy, SMGP is also expanding its portfolio through its subsidiary, SMC Global Light and Power Corp., which is advancing several solar projects with support from possible partners.
SMGP currently operates a total generation capacity of approximately 5,356 MW across its portfolio.
Sources:
https://business.inquirer.net/524772/san-miguel-global-power-pushes-2-major-hydro-projects
https://business.inquirer.net/507975/smc-power-firm-lines-up-4000-mw-of-projects