Group to pursue ocean power project
Philippine firm H&WB Asia Pacific (Pte Ltd) Corp. has partnered with a French company to put up a 700-megawatt (MW) coal-fired power plant in Jose Panganiban, Camarines Norte.
H&WB president and CEO Antonio A. Ver said via e-mail that his company and Sabella SAS of France had signed an agreement for the development and financing of the country’s first ocean tidal power plant project. It is also the first of its kind in Southeast Asia, he said.
The project will be developed using three concession areas, one each in San Bernardino Strait between Matnog, in the province of Sorsogon as well as Capul Island and Dalupiri Island off Northern Samar.
The partners will start a 5-megawatt (MW) demonstration plant that can supply clean, reliable energy to Sorsogon Electric Cooperative I and II, in Sorsogon, Ver said.
The companies signed their memorandum of agreement on Oct. 15, 2015 in Makati City. The signing was led by Ver and Sabella chairperson and president M. Jean-Francois Daviau. It was witnessed by French Deputy Chief of Mission Laurent Le Godec.
The project has been listed by the Department of Energy (DOE) as one of the indicated power projects for Luzon as of March this year.
Data from the DOE showed that construction of the power plant was set to start in the fourth quarter of 2017. H&WB Asia is expected to complete a grid impact study of its subcritical coal-fired power plant, which will consist of two 350-MW units.
According to the DOE, the company has conducted pre-feasibility studies to determine the viability of the project. The company has secured land and the same has been classified as industrial, DOE said.
The company is holding discussions with three potential co-developers and equity partners for the projects, and is also currently sourcing out a potential engineering, procurement and construction contractor.
H&WB Asia is engaged in energy investments and in the development of biofuels. It is also keen on a base load power plant to add capacity in Luzon, and reach Eastern Visayas to spur growth in the region which was badly hit by Supertyphoon “Yolanda” (international codename: Haiyan) in November 2013. Riza T. Ochondra
