Global Power to expand capacity of Iloilo plant
Global Business Power Corp. (GBPC) said it was expanding its 164-megawatt coal-fired plant in Iloilo in anticipation of an increase in power demand arising from the continued economic growth in the province.
A member of the GT Capital Group of Companies of taipan George Ty, Global Power owns Panay Energy Development Corp., which operates the coal plant.
Panay Energy has announced that it is building another 150-MW coal-fired power plant in Iloilo, which will start in the middle of the year, with commercial operations expected to start in July 2016.
“We hope that this forward-looking power plant expansion will encourage more business expansion and new investors to locate in Iloilo and Panay Island,” Global Power chair Francisco Sebastian said in a statement.
Sebastian said that since the commissioning of the plant in 2011, Iloilo posted a “dramatic resurgence” of business and the emergence of new industries, like business process outsourcing (BPO). A supportive local government and the various infrastructure developments in the area, such as Iloilo International Airport and the Jalaur water project, have encouraged the company to expand its capacity.
“Iloilo is bustling with a number of major business and property developments under construction,” Sebastian said. He cited the 75-hectare Iloilo Business Park of Megaworld Corp., which will be home to the state-of-the-art Iloilo Convention Center, luxury hotels Richmond Hotel Iloilo and the Courtyard by Marriott Hotel, and BPO office buildings and residential condominiums.
He also mentioned the 20-hectare Atria Park District of Ayala Land, the 20-hectare Gaisano Business Center and the high-rise commercial and residential condominiums of DoubleDragon Properties as some of the major projects that would need power in the next few years.
Iloilo Business Club (IBC) executive director Lea Lara said that while there was no problem with the current power needs, “stable power supply is needed by 2015 when many of the establishments currently under construction will begin to open.”
Lara said the IBC welcomed the proposed expansion of Panay Energy.
Sebastian also said GBPC’s expansion would help support the growth in tourism in neighboring Boracay Island in the province of Aklan. “New hotels are still being developed there, such as the P2-billion Crimson Resort and Spa Boracay of the Filinvest Group,” he said.
According to the Department of Tourism (DoT), Aklan had the most number of tourists in 2012 with 1,307,516, with at least 1.2 million going to Boracay. DoT-Boracay expects tourist arrivals to hit the 1.5-million mark this year in Boracay Island. They are optimistic of Boracay tourism driven by the arrival of world cruise liners SuperStar Gemini and SuperStar Aquarius.
