DMCI Power books 11th consecutive quarter of electricity sales growth

DMCI Power, a subsidiary of DMCI [DMC 9.99, down 1.3%; 118% avgVol] [link], recorded a 7% increase in electricity sales volume. According to DMCI Power’s president, Antonio Gatdula, the sales increase marks the 11th consecutive quarter of sales growth for the company, which Mr. Gatdula attributes to its “dedication to missionary electrification.” DMCI Power is the country’s largest “off-grid” energy generator.

MB bottom-line: DMCI Power’s specialty is in putting up thermal/bunker-fired power plants in deep provincial areas that are not served by the country’s transmission grid network. While these power plants are dirty and destructive, they are quick and easy to construct and can be fired up quickly to meet additional demand (or throttled back in the absence of demand). DMCI Power is just starting to get into renewables, with a modest 12-MW onshore wind project scheduled for completion later this year. DMC said yesterday that it plans to increase the capacity of that wind farm up to 100 MW at some point in the future.

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