Napocor is losing P1 billion a month due to the highly volatile price of diesel fuel, prompting more efforts to hybridize diesel-fired power plants in off-grid areas, according to its top official. | MegINQ /PDI
At present, Napocor operates and maintains 281 mostly diesel-fired SPUG plants across 189 municipalities in the Philippines.
Napocor has already secured P5 billion of this total, and the remaining P10 billion still needs Monetary Board approval and a sovereign guarantee from Malacañang, according to Roxas. He added that Napocor has so far reached out to 18 companies for potential partnerships to fast-track its renewable energy transition plans, beginning with the hybridization of existing SPUG plants through biofuels and putting up solar plants.
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