Conglomerate San Miguel Corp. plans to bid for the remaining state generating assets and contracted capacities in Visayas and Mindanao as it seeks to establish a foothold in the islands’ power market.
This was disclosed by Alan T. Ortiz, president and COO of SMC energy unit San Miguel Global Power Holdings Corp. Among those eyed by the company were the Agus-Pulangi hydropower facilities in Mindanao, the independent power producer administrator contracts for the 640-megawatt Unified Leyte geothermal complex and the 146-MW Naga power facility in Cebu.
Ortiz said the company already owned 29 percent of the total generating capacity in the Luzon grid, nearly hitting the 30-percent market cap set by the Electric Power Industry Reform Act (Epira).
SMC is already considered the biggest player in the local power generation industry with a portfolio of more than 3,100 MW. However, it has yet to establish its presence in Visayas.
Since 2009, the company has been acquiring power assets from the government including the 540-MW Limay combined cycle power plant in Bataan, and the contracts to manage the 1,200-MW Sual coal plant in Sual, Pangasinan; 345-MW San Roque multipurpose hydroelectric power plant in San Manuel, Pangasinan, and the 1,200-MW Ilijan natural gas power facility in Batangas. Amy R. Remo