Zamsureco I, Sarangani Energy sign power deal
MANILA, Philippines–Sarangani Energy Corp. (SEC), which is set to complete its $600-million 210-megawatt (MW) coal power plant in 2016, has signed up another company that will use part of the capacity to be generated by the facility.
SEC and Zamboanga del Sur I Electric Cooperative Inc. (Zamsureco I) reported to the Energy Regulatory Commission that they recently signed a 25-year power sales agreement.
SEC’s power station comprises two units, each with a capacity of about 105 MW.
Under the agreement, SEC would supply 5 MW of power to Zamsureco I from its second unit, which will be finished in 2016. At least 10 MW of the plant’s second phase has already been booked by South Cotabato I Electric Cooperative Inc.
The first phase of the power station located in Maasim, Sarangani province, is set to be completed in the third quarter of 2015.
The full 105 MW capacity of the plant’s first phase has already been contracted to various cooperatives, such as Agusan Del Norte Electric Cooperative Inc., Agusan del Sur Electric Cooperative Inc., Davao Del Norte Electric Cooperative Inc., and South Cotabato 2 Electric Cooperative Inc.
The Department of Energy and other stakeholders said the new power station could help solve the power crunch in Mindanao.
Alsons Power Group holds a 75-percent equity in SEC. The rest is owned by Toyota Tsusho Corp., the trading firm of the Toyota Group.
Apart from the SEC plant, Alsons is developing the 105-MW San Ramon Power Inc. coal-fired power plant in Zamboanga City.
Alsons Power operates three diesel plants in Mindanao: Mapalad Power Corp.’s 103-MW plant in Iligan City, the 55-MW Southern Philippines Power Corp. facility in Sarangani, and Western Mindanao Power’s 100-MW plant in Zamboanga City.
