Quantcast
Latest Stories

Korean company plans power plant in Iloilo

By

ILOILO CITY, Philippines—A South Korean power company is eyeing to build a $22-million (P895.84 million) biomass power plant in Iloilo that is expected to boost the supply of energy on Panay Island.

The Korea Environment Corp. (Keco),  a state-run company focusing on eco-friendly energy projects, has signed a memorandum of agreement with the Iloilo provincial government and the International Builders Corp. (IBC) for the project.

The agreement covers the conduct of a feasibility study, acquisition of licenses and other legal requirements, sourcing of funds and obtaining land and bioresources. It was signed on March 13 by Iloilo Governor Arthur Defensor, IBC chief executive officer Alfonso Tan and KEC executive director Choi Kyu Jin.

If completed, the project will boost energy supply in Iloilo and Panay Island.

The power supply in the Visayas grid is expected to become critical by 2016, with an additional supply of 50-megawatt needed to cope with the increasing power needs, according to projections of the Department of Energy.

Among the sources of additional power supply are the P12.5-billion 135-megawatt coal plant of the Palm Concepcion Corp. in Concepcion town in Iloilo which is expected to be completed in 2015.

The coal plants of the Panay Energy Development Corp. in Iloilo City and the Cebu Energy Development Corp. in Cebu are expected to expand their capacities before 2016.

A 50-megawatt wind farm project of Trans-Asia is also expected to be completed within the period.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: biomass , Business , electricity , fuel , power , power generation , regions

  • 1voxPopuli

    감사합니다

    that’s thank you in Korea!

  • Cobra

    This is the kind of foreign investment that should be encouraged by the Phils. by allowing investors at least 99 years lease on the lands they use.They should also be allowed to own these businesses 100% without local participation so that they won’t get bullied by govt. bureaucrats or their partners.This will in turn produce the competition needed for cheaper electricity in the country thus more factories & employement.

  • http://www.facebook.com/people/Jake-Lopez/100002950838043 Jake Lopez

    I still don’t understand why local investors are shying away from from micro and mini-hydro as source of power. If we could only harness existing small streams and rivers, then these will definitely augment our power requirements. These small systems don’t need big investments and we could probably build hundreds of these micro and mini-hydro resources. These is clean energy, renewable, and will not alter the environment significantly.

  • http://www.facebook.com/yet.jua Yet Jua

    panay island and the booming province of iloilo will require abundance in power supply in order to meet the industrial demands of the future and not just focusing in agriculture and fishery…

  • H_A_B_A_G_A_T

    Yosh! approved!
    yan kailangan natin, Eco-friendly power.

  • Bring back Phils Glory. Unite.

    nice. thank you South Korea.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Ukraine FM: We are ready to fight Russia
  • Slain officer’s ‘diagram’ rocks PNP
  • 2 contractors fined P25,000 for delays in Edsa rehab
  • Luisita beneficiaries take over renters
  • 5 years of hard work pay off for top UP grad
  • Sports

  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • NLEX roars to 7th D-League win
  • Lifestyle

  • A brand for life
  • Wear a rainbow on your wrist
  • Wearing Kate Moss
  • Sail into summer
  • Life lessons from the Ultimate Warrior
  • Entertainment

  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • OMB exec’s assurance: We work 24/7
  • Business

  • Gaming stocks gain, PSEi eases on profit-taking
  • Cebu Pacific flew 3.74M passengers as of March
  • Corporate bonds sweeteners
  • Professionals in the family business
  • Foreign funds flowed out in Q1, says BSP
  • Technology

  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • Afghan hospital guard kills 3 American doctors
  • Career diplomat is new PH consul general in Los Angeles
  • US4GG: Aquino should ask Obama for TPS approval, drone technology
  • Complex health care system for California’s elderly and poor explained
  • Tiff with HK over Luneta hostage fiasco finally over
  • Marketplace