Therma Visayas Inc., a subsidiary of Aboitiz Power Corp. (AboitizPower), and Vivant Corp. (Vivant), are starting to build the 340-megawatt (MW) thermal power plant in Toledo City, Cebu.
Aboitiz Power said the contractors were already notified to proceed with the construction last March. The power plant, which will have a net capacity of 300 MW, is expected to be completed in early 2018.
Therma Visayas president and COO Benjamin A. Cariaso Jr. said the power plant would provide the Visayas a reliable source of power.
The Visayas, particularly Cebu, has seen a surge in economic growth, resulting in higher electricity demand.
“Therma Visayas will improve the region’s energy mix through dependable base load power, securing the energy needs of the Visayas,” Cariaso said.
Last year, Therma Visayas signed an engineering, procurement and construction (EPC) contract with Hyundai Engineering Co. Ltd and Galing Power Energy Co, Inc. for the construction of the power facility in Sitio Looc, Barangay Bato, Toledo City, Cebu.
The plant’s generating equipment will consist of two 170-MW steam turbines, which will utilize the latest circulating fluidized bed (CFB) boilers.
According to Aboitiz Power, the design of the power plant has met government standards on health, protection of the environment, and safety.
Therma Visayas is set to go online in 2018. The project is expected to create over 2,500 new jobs during construction, and more than 150 new permanent jobs during operation. Therma Visayas is a joint venture between listed companies Aboitiz Power Corp. and Vivant Corp., through Vivant Integrated Generation Co. and Vivant Energy Corp.