SMC to start 3 power projects this year
Facilities to have combined capacity of 2,400 MWBy Amy R. Remo
Philippine Daily Inquirer
Conglomerate San Miguel Corp. is pushing through this year with the construction of three power-generation facilities, which can generate a combined 2,400 megawatts for the country’s main grids.
SMC president Ramon S. Ang said in an interview that the company targets to start building this year a 1,200-MW power plant in Luzon, a 600-MW facility in the Visayas and another 600-MW plant in Mindanao.
Ang, however, declined to give details of these projects, noting that he would only do so before the groundbreaking for the facilities.
According to data from the Department of Energy (DoE), the conglomerate, through subsidiary SMC Global Power Holdings Corp., has six proposed facilities under its power-generation portfolio. These plants may be fueled by either coal, compressed natural gas (CNG) or liquefied natural gas.
The company is also considering building in Cavite a power plant that can generate 1,200 MW; a 600-MW power-generating facility in Bulacan; and another plant in Leyte, also with a 600-MW capacity. In Panay, a 150-MW power plant is also being considered.
In Mindanao, SMC Global targets to put up a 300-MW power plant in Davao del Sur and a 150-MW facility in South Cotabato.
In 2010 SMC acquired three coal mines in South Cotabato, which have resources capable of supporting a 750-MW facility over the next 25 years.
SMC is among the biggest players in the local power sector with an installed capacity of about 3,000 MW.
The company’s plans to further shore up power supply in the country bode well with the thrust of the government to have new power plants installed within the next several years.
As indicated in the Philippine Power Development Plan (PDP) 2013-2030, the country’s demand for electricity will grow by about 4.5 percent yearly. With this, the country may need an additional power-generation capacity of about 14,400 megawatts during the period.
Based on the data provided by the DoE, there are 51 committed and indicative power projects listed for construction between now and 2020, which can generate only 6,665.30 MW. Of these, 11 projects with a combined capacity of 839 MW have been categorized as “committed.”
Committed power projects are those that have complied with the necessary permits and clearances of various agencies and concerned local governments and are already in the process of financial closing.
Short URL: http://business.inquirer.net/?p=71347