Global Business unit starts P10.2B power project
Toledo Power Corp., a wholly owned subsidiary of Global Business Power Corp. (Global Power), has started construction of its P10.2-billion coal-fired power plant in Toledo City in Cebu.
The project, which is part of the capacity expansion program of Global Power, will serve the electricity requirements of a mining firm starting 2014.
At present, Global Power provides electricity to the said mining company through its 66-MW coal-fired facility in Daanlungsod, also in Toledo City.
In a statement issued Monday, Global Power said the 82-megawatt power project would cater to the power demand of Carmen Copper Corp., a subsidiary of Atlas Consolidated Mining and Development Corp., which will be needing the additional power supply for its mining expansion program.
According to Global Power, Toledo Power recently held a groundbreaking ceremony to signal the start of the construction of the power facility at its site in Toledo City.
“Today’s milestone is very dear to our hearts. Toledo Power has brought into Global Power its more than four decades of technical expertise in power generation,” said Global Power chairman Francisco Sebastian.
“As a testament to our continuing commitment to the Visayas region, we are investing an additional P10.2 billion in the area to replace Toledo Power’s existing coal facility with the latest clean coal technology. The same clean coal technology is being used in Cebu Energy Development Corp.’s 246-MW and Panay Energy Development Corp.’s 164-MW facilities,” Sebastian explained.
Sebastian added that the 82-MW expansion project would allow Toledo Power to create 500 new jobs during the construction phase, 120 direct and indirect jobs upon operation, and additional tax revenues to the host community.
Toledo Power has commissioned Formosa Heavy Industries to provide the design, engineering, procurement and construction services for the expansion project.
Aside from the 66-MW coal fired power plant in Daanlungsod, Toledo Power also operates a 40-MW diesel-fired power plant in Carmen.
Global Power, one of the leading independent power-generation companies in the Visayas, generate a total of 633 MW through its power plants in Cebu, Iloilo, Aklan and Oriental Mindoro. It is a member of the GT Capital Group of Companies.
