Kansai Electric Power Co., Inc. (KANSAI), a major power company from Japan, has announced that it will invest in a big clean energy project in the Philippines. The company is buying a 14% ownership stake in PMJVCo Holdings, Inc. (PMJVCo), which is owned by Prime Infrastructure Capital Inc. (Prime Infra), a company that builds and operates important infrastructure projects.
What is This Project About?
PMJVCo owns a company called Olympia Violago Water & Power Inc. (OVWPI), which is building the Wawa Pumped Storage Hydropower Project. Think of this project like a giant rechargeable battery that uses water instead of chemicals. Located in Rizal, near Metro Manila, this facility will be able to produce up to 600 megawatts (MW) of electricity.
To put that in perspective, 600 MW is enough electricity to power hundreds of thousands of homes. The Philippine government’s Department of Energy has recognized how important this project is by certifying it as an “Energy Project of National Significance.”
How Does Pumped Storage Work?
A pumped storage hydropower plant works like this: when there’s extra electricity available (like during sunny days when solar panels make lots of power), the plant uses that electricity to pump water uphill into a reservoir. Later, when people need more electricity (like in the evening when everyone comes home), the water flows back down through turbines to generate power. It’s a clever way to store energy for when it’s needed most.
Who Owns What?
After KANSAI’s investment, the ownership structure will look like this: PMJVCo will be 86% owned by Prime Hydropower Energy, Inc. This company is partially owned (33%) by FGEN Aqua Power Holdings, Inc., which is a subsidiary of First Gen Corporation (First Gen). First Gen is described as a leading independent power producer in the Philippines that focuses on clean energy sources including geothermal, hydroelectric, wind, and solar power.
KANSAI’s 14% stake in PMJVCo translates to an indirect ownership of 12.18% in OVWPI, the actual company operating the project.
Why This Project Matters
The Wawa project will provide up to 6,000 megawatt-hours (MWh) of daily energy storage capacity. This is important because it helps keep the electric grid stable and makes it easier to use more renewable energy sources like solar and wind power, which don’t produce electricity all the time. The project is scheduled to start commercial operations in 2030.
KANSAI’s Expanding Presence
This investment marks an important milestone for KANSAI—it’s the company’s first pumped storage hydropower project outside of Japan. It also represents a new phase of growth for KANSAI in the Philippines. With this investment, KANSAI’s total power generation capacity from its overseas projects has grown to approximately 2,500 MW.
According to the announcement, KANSAI plans to use its knowledge and expertise from operating similar facilities in Japan to help develop renewable energy projects both at home and abroad, working toward the goal of a zero-carbon society—a world where we don’t add carbon dioxide to the atmosphere.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
