DMCI plans PHP 3B cable to supply power to Mindoro

DMCI Power Corp., the off-grid energy unit of DMCI Holdings Inc., is planning a PHP 3-billion subsea cable to deliver up to 100 megawatts (MW) of power from Semirara Island in Antique to Mindoro.

The 20-kilometer submarine cable project is awaiting regulatory approval, DMCI chairman and CEO Isidro Consunji said in a recent statement.

“We were thinking of connecting Semirara with Mindoro, and Popoy [Lotilla] told us to connect them and Mindoro would be made an open market,” Consunji said as cited by a PhilStar report.

“However, Lotilla is no longer with the DOE, so I don’t know who would offtake it,” he added.

Mindoro currently relies heavily on diesel-fired generation, which Consunji noted is more expensive compared to DMCI’s mix of coal, solar, and wind sources.

Based on initial estimates, the project is expected to cost between PHP 2 billion and PHP 3 billion and will carry as much as 100 MW of power.

“We believe the project is viable economically and technically,” Consunji said, expressing optimism that the Department of Energy (DOE) will approve the plan.

DMCI Power is steadily expanding its portfolio of generation assets in off-grid regions, including a 12-MW wind farm in Semirara that supports coal mining operations.

It also operates an 8-MW bunker-fired power plant in Palawan, with recent expansions in Antique and Palawan contributing to increased sales.

In the first half of 2025, DMCI Holdings reported an 18% decline in net income to PHP 9.1 billion, but DMCI Power posted a 5% rise in its contribution, totaling PHP 374 million.

The increase was driven by higher energy sales and additional capacity from new installations.

Consunji remains optimistic about DMCI’s overall performance in the second half, citing rate cuts by the Bangko Sentral ng Pilipinas and potential contracts in infrastructure.

DMCI has submitted the lowest bid for a segment of the Metro Manila Subway Project in Taguig, further bolstering its growth outlook.