Mindanao gets multi-billion energy investments

Mindanao gets multi-billion energy investments | Daily Tribune

DAVAO CITY — Mindanao Development Authority Secretary Leo Tereso Magno said that the influx of multi-billion dollar investments in Mindanao, particularly from a French renewable energy firm, stands as a significant achievement of President Ferdinand Marcos Jr.’s administration.

He announced in a press briefing on Friday that the $1 billion worth of projects by Hydrogen de France S.A. (HDF Energy) in Mindanao marks a notable milestone in addressing the island’s power needs.

Magno detailed that HDF plans to develop, finance, and construct at least 10 Renewstable power plants in Mindanao. These will focus on both off-grid areas and regions within the grid experiencing power shortages.

“This is an accomplishment not only for Mindanao but for our entire nation and its people. Of course, it is also a significant achievement for the President,” Magno emphasized.

On 19 July, Secretary Magno witnessed the signing of the memorandum of cooperation between the HDF and the representatives from the provinces of Agusan del Sur, Surigao del Norte, and Zamboanga City for the renewstable energy project.

“The President has instructed all government agencies, including the Mindanao Development Authority, to ensure that investors entering into public-private partnerships will experience ease of doing business in our region,” Magno added.

HDF Energy, a French company, specializes in developing, financing, building, and operating multi-megawatt power plants. These plants generate firm power from intermittent renewable energy sources (like wind and solar) using green hydrogen or produce electricity on demand from decarbonized hydrogen (HyPower).

The first commercial-scale project is underway on Olutanga Island in the Province of Zamboanga. Following this, HDF, through a memorandum of cooperation, has identified three more provinces as potential sites for Renewstable energy projects: Agusan del Sur, Surigao del Norte and Zamboanga City.

By harnessing renewable green hydrogen from domestic sources, HDF ensures energy stability for the Philippines and supports the nation’s transition to a green economy.

Magno expressed his gratitude to HDF, led by Mathieu Geze, president director of HDF Energy Philippines Holdings Incorporated, and Her Excellency Marie Fontanel, the French Ambassador to the Philippines.

“We thank HDF and the French Ambassador for their support. The Ambassador noted that while Mindanao has faced many challenges, she now sees its immense potential,” said Magno, adding that the Ambassador believes in the promise of transforming Mindanao’s potential into reality.