THE Global Business Power (GBP) has envisioned to venture on renewable energy sources as part of their diversified energy solution project.
Leah Diaz, first vice president of GBP, said they were targeting to construct renewable energy plants within five years.
“We are now evaluating the plan and conducting feasibility studies on it,” Diaz told reporters in a media interview on Friday during a visit to their plant in Toledo City.
She said they are looking at investing on biomass and solar power plants.
Currently, GBP is generating around 428 megawatts of power supply in Cebu, through their base load power plants in Toledo Power Corp. (TPC) and Cebu Energy Development Corp. (CEDC).
In the Visayas, the company is generating a total of 854 megawatts — considered the biggest power supply generated here.
“We are targeting to generate at least 30 percent of our total power generation coming from renewable energy,” she added.
She added that they were looking at Toledo City in southwest of Cebu, province of Negros Oriental and other parts in northern Cebu where they would build renewable energy power plants.
Diaz, however, admitted that renewable energy was expensive and inefficient, that was why they were seeing these as an alternative source of energy.
“It will augment our existing coal-fired power plants,” she added.
Meanwhile, GBP also plans to expand their operation in Bohol, especially that the province has no existing power plant.
“We also have plans for that but we have to make sure that the site is feasible and would not affect the tourism industry of the province,” she said.