Palm Concepcion Power Corp., a unit of listed A Brown Co. Inc., has tapped PT. Pevensey Indonesia to supply the coal requirements of its planned P12.5-billion coal-fed power facility in Iloilo.
In a statement issued Monday, Palm Concepcion said it had signed last week a coal supply agreement with PT. Pevensey.
The supplier is expected to source the coal stock from the Arjuna mine in East Kalimantan, Indonesia.
Palm Concepcion is the owner and operator of the planned 135-megawatt clean coal-fired power plant (CFPP) project, the construction of which is scheduled to begin this year. PT. Pevensey Indonesia, a company based in Jakarta, markets coal, iron ore, carbon products. The latter currently supplies coal to power plants in China, India and the Philippines.
“We have almost completed the necessary technical and commercial agreements for this project and the signing of the coal contract with PT. Pevensey Indonesia secures the coal requirements of the power plant,” said Palm Concepcion president Roel Z. Castro.
The coal-fired power plant project, which was launched on Jan. 15, will rise in 30-hectare property in Barangay Nipa, Concepcion, Iloilo. It will use the circulating fluidized bed combustion (CFBC) technology.