Manila Bulletin
By Myrna M. Velasco
Published: August 31, 2013
In the proposed collection and payment guidelines for feed-in-tariff allowance (FIT-All) for renewable energy (RE), the Energy Regulatory Commission (ERC) is being empowered to impose penalties versus power entities which will fail in remitting their FIT-All collections.
Section 2.5 of the FIT Rules stipulates that “the ERC is authorized to impose penalties to erring parties to prevent default or delay in payment and/or remittance of the FIT-All and/or ACRR (Actual Cost Recovery Revenue).” Violations will cover even partial remittance of FIT-All collections.
It was explained that a partial or non-remittance of FIT-All collections would have be avoided because this will unduly burden the FIT Administrator, which is the National Transmission Corporation (TransCo).
While it was stipulated in the Rules that there shall be provision for working capital allowance (WCA) that will be included in the FIT-All, it is seen that this cannot fully guarantee that the administrator will not suffer financial dilemmas if there would be default on payments or remittance of the RE subsidy.
The WCA will serve as a buffer “for working capital requirements to address any default or delay in the collection and/or remittance of the FIT-All and/or actual cost recovery revenue,” the rules said.
The FIT-All and ACRR will have to be collected and remitted to TransCo by the distribution utilities from their captive customers; the Retail Electricity Suppliers and local RES from their contestable customers; the National Grid Corporation of the Philippines from end-users directly connected to its system; and the Philippine Electricity Market Corporation (PEMC) will be collecting the proceeds as ACRR of eligible RE plants from WESM (Wholesale Electricity Spot Market) participants.
The ACRR, in this case, “is the amount of cost recovery revenue actually due to the RE eligible plant and billed by the relevant collection agent to the consumers” within specified billing periods.
The amount has to be derived from the actual RE generation multiplied by the actual cost recovery rate of the WESM or the host distribution utility.
The components of the FIT-All to be collected from consumers include: FIT differential; cost recovery revenue for ACRR; working capital allowance; administration allowance and disbursement allowance. source
Saturday, August 31, 2013
Meralco unit takes majority stake in coal plant jt venture
(The Philippine Star) | Updated August 31, 2013 - 12:00am
MANILA, Philippines - Meralco PowerGen Corp., a wholly-owned unit of Manila Electric Co., the country’s biggest power distributor, has signed a joint venture deal with New Growth B.V., a subsidiary of the EGCO Group of Thailand, to develop a 460-megawatt coal-fired power plant in Mauban, Quezon.
In a disclosure to the Philippine Stock Exchange yesterday, Meralco said under the deal, Meralco PowerGen would have a 51 percent stake in the project while New Growth would hold the remaining 49 percent.
The project’s cost is yet to be determined and will depend largely on final design, specifications and other terms determined during the engineering, procurement and construction (EPC) tender process, Meralco said.
Meralco said its board has approved a resolution authorizing Meralco PowerGen to execute a joint development agreement with EGCO for the new 460-MW super-critical coal-fired power plant of Quezon Power.
EGCO, which controls 98 percent of Quezon Power, is eyeing to complete the 460-MW expansion by 2016 or early 2017.
The Quezon Power project, an existing 460-MW coal-fired plant, commenced operations in May 2000 and provides stable and reliable electricity to the Luzon grid under a 25-year power sales agreement with Meralco.
EGCO is the first independent power producer in Thailand. It has around 16 operating plants with total installed capacity of 4,444 MW in Thailand.
Its agreement with Meralco for a new coal-fired power plant comes after it divested last month its stake in a joint venture project with Alsons Consolidated Resources Inc. of the Alcantara Group to pursue other investment opportunities in the Philippines.
In its announcement to the Thailand Stock Exchange last month, EGCO International Ltd., the wholly-owned subsidiary of EGCO, said it divested its 49-percent stake in Conal Holdings Corp., its joint venture with Alsons, which holds a 60 percent stake in the holding company, acquired EGCO’s 40 percent stake, bringing its stake in the power holding company to 100 percent. source
Ayala, GN Power clear site for Lanao coal plant
Manila Standard Today
By Alena Mae S. Flores | Posted on Aug. 31, 2013 at 12:02am
Ayala Corp. said Friday power unit AC Energy Holdings Inc. and its partner GN Power Ltd. Co. are set to start the construction of the 405-megawatt coal-fired power plant in Kauswagan, Lanao del Norte in the first half of 2014.
By Alena Mae S. Flores | Posted on Aug. 31, 2013 at 12:02am
Ayala Corp. said Friday power unit AC Energy Holdings Inc. and its partner GN Power Ltd. Co. are set to start the construction of the 405-megawatt coal-fired power plant in Kauswagan, Lanao del Norte in the first half of 2014.
“The project is currently in pre-development stage starting with clearing operations on the 60-hectare site which include the preparation of relocation sites for communities that will be affected by the construction,” Ayala Corp. said.
GN Power earlier signed a power purchase agreement involving the supply of 330 MW with 20 Mindanao electric cooperatives belonging to the Association of Mindanao Electric Cooperatives—Power Supply Aggregation Group Corp.
Agusan del Norte Electric Cooperative Inc. agreed to source 24 MW of power from the coal project once it becomes available by 2016 or 2017.
Davao del Sur Electric Cooperative will source 31 MW from GN Power.
Electric cooperatives in Mindanao established PSAGCOR to mitigate technical and financial risks in power supply contracting.
Ayala and GN Power have an existing partnership for the 600-megawatt coal-fired power plant in Bataan.
Ayala earlier said it took a 17.1-percent stake in GN Power Mariveles for $155 million. Ayala signed a sale and purchase agreement to acquire 100 percent of the interests held by an affiliate of a fund advised by Denham Capital in GNPower Mariveles. source
Meralco seals power plant deal
Manila Standard Today
By Alena Mae S. Flores | Posted on Aug. 31, 2013 at 12:03am
By Alena Mae S. Flores | Posted on Aug. 31, 2013 at 12:03am
Manila Electric Co. struck a deal with Electricity Generating Public Co. Ltd. of Thailand to build a new 460-megawatt coal-fired power plant in Quezon province that will help avert the power shortage in Luzon in the coming years.
Meralco PowerGen Corp., the power generation arm of Meralco, signed a joint development agreement with New Growth B.V., a subsidiary of Egco for the construction of the new 460 megawatt supercritical coal-fired power plant, as a part of the expansion of the Quezon power project.
“Under the JDA [joint development agreement], Meralco PowerGen will have a 51-percent stake in the project company inclusive of rights to assign up to 2 percent thereof to an approved assignee, with New Growth B.V. to hold the remaining 49 percent,” Meralco said in a disclosure to the stock exchange.
Meralco said the agreement was signed on Aug. 29, but the project cost had yet to be determined and would depend largely on the final design, specifications and other terms determined during the engineering, procurement and construction tender process.
Meralco earlier said its board approved the resolution authorizing Meralco PowerGen “to execute a joint development agreement and other related agreements with Egco for the new 460-MW super critical coal fired power plant of the Quezon power project.”
Meralco PowerGen general manager Aaron Domingo said the Quezon power expansion was a part of the company’s planned 2,700-megawatt power portfolio.
Egco has been negotiating with Meralco for a joint venture agreement for the planned expansion of the existing 460-MW coal-fired power plant in Quezon since last year. The Quezon Power plant supplies power to Meralco.
Egco now controls 98 percent of Quezon Power Philippines Ltd., the plant’s corporate vehicle, after acquiring an additional 45.875 percent from Intergen for $375 million. The remaining 2 percent is held by PMR Ltd.
The Quezon Power project commenced commercial operations in May 2000 and provides stable and reliable electricity to the Luzon grid under a 25-year power sales agreement with Meralco.
Records from the Energy Department showed Quezon Power was scheduled to award the engineering, procurement and construction contract for the expansion by September.
Egco is the first independent power producer in Thailand where it operates a total of 16 power plants with combined capacity of 4,444 MW. source
Friday, August 30, 2013
Ayala power unit eyes Mindanao plant
By Amy R. Remo
Philippine Daily Inquirer
Philippine Daily Inquirer
The Ayala-led AC Energy Holdings Inc. has partnered with GN Power Ltd. to put up a new coal-fired power facility in Mindanao, a move that may help ease the island’s acute power supply shortage in a few years’ time.
In a disclosure to the Philippine Stock Exchange Friday, parent firm Ayala Corp. reported that the proposed power project was targeted to have a capacity of 405 megawatts. The total cost, however, has yet to be determined following discussions with the engineering and procurement contractor.
According to Ayala, the power project is in the predevelopment stage, starting with clearing operations on the 60-hectare site and the preparation of relocation sites for communities that will be affected by the construction.
AC Energy and GN Power are targeting to start construction of the coal plant within the first half of 2014.
The two firms are among the several investor groups putting up coal plants in Mindanao to help shore up power supply on the electricity-starved island. As of yesterday, Mindanao continued to post a supply deficit of 179 megawatts (MW).
Mindanao is in dire need of baseload facilities as it relies heavily on its hydropower plants, which supply more than half of the island’s electricity requirements. This makes it highly vulnerable to weather conditions like a prolonged drought.
The Ayala group, a relatively new player in the power industry, has been expanding aggressively its power portfolio through partnerships with established energy companies.
Ayala said it expected equity investment of as much as $1 billion over a five-year period in $2.5 billion worth of power projects that can generate 1,000 MW.
The Ayala group has investments in both conventional and renewable energy projects, which it is undertaking with various partners.
The group holds a 17.1-percent interest in GNPower Mariveles Coal Plant Ltd. Co., which started to operate a 600-MW coal plant in Bataan only this year, and a 50-percent stake in NorthWind Power Development Corp., which owns and operates Southeast Asia’s first commercial wind facility, the 33-MW wind farm in Bangui, Ilocos Norte.
Ongoing and proposed power projects include two 135-MW coal facilities in Batangas in partnership with Trans-Asia Oil and Energy Development Corp.; three solar power projects with Mitsubishi Corp. of Japan, and mini hydropower ventures with combined capacities of at least 100 MW, in partnership with Sta. Clara Power Corp. source
Aboitiz Power invests $150M for rehab of Tiwi-MakBan
Manila Bulletin
By Myrna M. Velasco
Published: August 30, 2013
To ramp up the capacity of its Tiwi and Makiling-Banahaw (MakBan) geothermal assets acquisition, the operating subsidiary of Aboitiz Power Corporation injected $150-million capital outlay for the rehabilitation of its generation units, primarily those specified in the sale agreement with seller Power Sector Assets and Liabilities Management Corporationm (PSALM).
Aboitiz Power President and Chief Executive Officer Erramon I. Aboitiz said the company was able to raise the capacity of the facilities to their sustainable output of 400 megawatts.
Specifically for Units 5 and 6 of the MakBan geothermal facility, AP Renewables Inc. (APRI) was able to bring up their capacity to 55MW each, a level that run close to installed.
Moving forward, Aboitiz noted that “there’s general desire between them and steam supplier (Philippine Geothermal Production Company Inc.) to increase the plants’ output with the drilling of make-up wells.”
He qualified nevertheless that since steam production already reached declining rate, there would just be so much that they can do when it comes to increasing electricity generation at the plants.
Post-rehab at the Tiwi-MakBan plants, APRI was able to lift the availability factor at MakBan facility to 97.52 percent, up 15.3 percent from 82.49-percent previously; while at Tiwi, it was raised to 97.83 percent or higher by 24.73 percent from 73.10 percent.
Availability factor is measured via the number of hours when the plant is able to generate electricity over a certain period – often, it is divided by the total number of hours in a year.
Forced outage at the plants had also been pared, with Aboitiz Power logging very significant improvement for Tiwi at 1.67 percent from 3.55 percent previously; and MakBan at 2.06-percent from 3.81 percent.
Aboitiz Power said the rehabilitation works undertaken at the plants not only resulted in improved generation efficiencies, but had also “expanded (the company’s) renewable energy footprint.”
Part of the side developments being done at the facilities are anchored on the corporate social responsibility (CSR) programs of the company.
The latest major addition was the Cleanergy Center which was inaugurated by Energy Secretary Carlos Jericho Petilla and the host local government officials on August 28. source
By Myrna M. Velasco
Published: August 30, 2013
To ramp up the capacity of its Tiwi and Makiling-Banahaw (MakBan) geothermal assets acquisition, the operating subsidiary of Aboitiz Power Corporation injected $150-million capital outlay for the rehabilitation of its generation units, primarily those specified in the sale agreement with seller Power Sector Assets and Liabilities Management Corporationm (PSALM).
Aboitiz Power President and Chief Executive Officer Erramon I. Aboitiz said the company was able to raise the capacity of the facilities to their sustainable output of 400 megawatts.
Specifically for Units 5 and 6 of the MakBan geothermal facility, AP Renewables Inc. (APRI) was able to bring up their capacity to 55MW each, a level that run close to installed.
Moving forward, Aboitiz noted that “there’s general desire between them and steam supplier (Philippine Geothermal Production Company Inc.) to increase the plants’ output with the drilling of make-up wells.”
He qualified nevertheless that since steam production already reached declining rate, there would just be so much that they can do when it comes to increasing electricity generation at the plants.
Post-rehab at the Tiwi-MakBan plants, APRI was able to lift the availability factor at MakBan facility to 97.52 percent, up 15.3 percent from 82.49-percent previously; while at Tiwi, it was raised to 97.83 percent or higher by 24.73 percent from 73.10 percent.
Availability factor is measured via the number of hours when the plant is able to generate electricity over a certain period – often, it is divided by the total number of hours in a year.
Forced outage at the plants had also been pared, with Aboitiz Power logging very significant improvement for Tiwi at 1.67 percent from 3.55 percent previously; and MakBan at 2.06-percent from 3.81 percent.
Aboitiz Power said the rehabilitation works undertaken at the plants not only resulted in improved generation efficiencies, but had also “expanded (the company’s) renewable energy footprint.”
Part of the side developments being done at the facilities are anchored on the corporate social responsibility (CSR) programs of the company.
The latest major addition was the Cleanergy Center which was inaugurated by Energy Secretary Carlos Jericho Petilla and the host local government officials on August 28. source
Meralco seeking refund from suppliers
Manila Bulletin
By Myrna M. Velasco
Published: August 30, 2013
Distribution utility giant Manila Electric Company (Meralco) has been directed to file petitions with the Energy Regulatory Commission (ERC) against four power generation companies to press them for a refund P4.663 billion worth of line loss charges to its customers.
These are the successor generation companies (SGCs) to the privatized assets of the Power Sector Assets and Liabilities Management Corporation (PSALM) which had been established in the ERC ruling to be in charge of roughly half of the refund due to line loss rentals arising from the transition supply contract (TSC) of then National Power Corporation and Meralco. PSALM is NPC’s transferee-company.
The regulatory body specified that Meralco will need to file petitions for dispute resolution against the specified SGCs within a prescribed period of 15 days from receipt of the ERC ruling, otherwise, “it shall be the one liable to refund the subject amount to its customers.”
Two of the country’s biggest power generators – Aboitiz and San Miguel Energy Groups – will be petitioned to refund aggregate P3.532 billion, which account for line loss charges attributed to their sold volumes, including those channeled through the Wholesale Electricity Spot Market.
Masinloc Power Partners Ltd. Co. of US firm AES Corporation was also levied “pay back” amount of P865.825 million; and P265.543 million from Sem-Calaca Power Corporation of the Consunji group.
For the Aboitiz group, its calculated refunds will be coming from AP Renewables Inc. (APRI) at P404.426 million; and Therma Luzon Inc. for the Pagbilao plant at P936.733 million.
San Miguel, on one hand, was enforced heftier refunds of P1.853 billion for line loss rentals due to its subsidiary South Premiere Power Corporation, the independent power producer administrator (IPPA) for the 1,200-megawatt Ilijan natural gas-fired power facility.
Payback to Meralco customers amounting to P337.685 million had also been enforced against San Miguel Energy Corporation (SMEC), the IPPA of the 1,000MW Sual coal-fired plant in Pangasinan.
The expected refunds from the private power generators form part of the P9.839 billion that must be paid back to Meralco customers on the alleged “double charging” for line loss rentals for the TSC capacities as reckoned with the volumes traded via the electricity spot market.
The bigger ‘pay back’ of P5.176 billion, plus additional amount accruing “from August 2012 until the actual cessation of the collection of the 2.98% line loss charges from TOU (time-of-use) rates”, will be coming from NPC transferee firm PSALM, as stipulated in the ERC order.
Meanwhile, for the Ilijan refund of San Miguel, the total amount also covered those incurred via the Customer Choice Program (CCP) previously enforced by NPC; as well as on the offer of discounted rates to the economic zones.
In the March 2013 ruling of the ERC, it directed NPC “to immediately implement the refund of the amount P73,944,958.55 per month until such time that the total amount of P5,176,147,098.73 is fully refunded to Meralco.”
For the dispute resolution propounded for SMC subsidiary SPPC, the ERC noted that the initial refund hovered at P705.952 million, but additional invoices escalated the amount by additional P1.147 bilion; hence, the running total had been placed at P1.853 billion. (MMV) source
By Myrna M. Velasco
Published: August 30, 2013
Distribution utility giant Manila Electric Company (Meralco) has been directed to file petitions with the Energy Regulatory Commission (ERC) against four power generation companies to press them for a refund P4.663 billion worth of line loss charges to its customers.
These are the successor generation companies (SGCs) to the privatized assets of the Power Sector Assets and Liabilities Management Corporation (PSALM) which had been established in the ERC ruling to be in charge of roughly half of the refund due to line loss rentals arising from the transition supply contract (TSC) of then National Power Corporation and Meralco. PSALM is NPC’s transferee-company.
The regulatory body specified that Meralco will need to file petitions for dispute resolution against the specified SGCs within a prescribed period of 15 days from receipt of the ERC ruling, otherwise, “it shall be the one liable to refund the subject amount to its customers.”
Two of the country’s biggest power generators – Aboitiz and San Miguel Energy Groups – will be petitioned to refund aggregate P3.532 billion, which account for line loss charges attributed to their sold volumes, including those channeled through the Wholesale Electricity Spot Market.
Masinloc Power Partners Ltd. Co. of US firm AES Corporation was also levied “pay back” amount of P865.825 million; and P265.543 million from Sem-Calaca Power Corporation of the Consunji group.
For the Aboitiz group, its calculated refunds will be coming from AP Renewables Inc. (APRI) at P404.426 million; and Therma Luzon Inc. for the Pagbilao plant at P936.733 million.
San Miguel, on one hand, was enforced heftier refunds of P1.853 billion for line loss rentals due to its subsidiary South Premiere Power Corporation, the independent power producer administrator (IPPA) for the 1,200-megawatt Ilijan natural gas-fired power facility.
Payback to Meralco customers amounting to P337.685 million had also been enforced against San Miguel Energy Corporation (SMEC), the IPPA of the 1,000MW Sual coal-fired plant in Pangasinan.
The expected refunds from the private power generators form part of the P9.839 billion that must be paid back to Meralco customers on the alleged “double charging” for line loss rentals for the TSC capacities as reckoned with the volumes traded via the electricity spot market.
The bigger ‘pay back’ of P5.176 billion, plus additional amount accruing “from August 2012 until the actual cessation of the collection of the 2.98% line loss charges from TOU (time-of-use) rates”, will be coming from NPC transferee firm PSALM, as stipulated in the ERC order.
Meanwhile, for the Ilijan refund of San Miguel, the total amount also covered those incurred via the Customer Choice Program (CCP) previously enforced by NPC; as well as on the offer of discounted rates to the economic zones.
In the March 2013 ruling of the ERC, it directed NPC “to immediately implement the refund of the amount P73,944,958.55 per month until such time that the total amount of P5,176,147,098.73 is fully refunded to Meralco.”
For the dispute resolution propounded for SMC subsidiary SPPC, the ERC noted that the initial refund hovered at P705.952 million, but additional invoices escalated the amount by additional P1.147 bilion; hence, the running total had been placed at P1.853 billion. (MMV) source
P50-B coal power plant to rise in Lanao Norte
Sunstar Cagayan de Oro
By Richel V. Umel
By Richel V. Umel
Friday, August 30, 2013
KAUSWAGAN, Lanao del Norte –- In this once conflict-affected town, a multibillion coal-fired power plant will rise covering some 85 hectares of a coastal village of Libertad (formerly known as Lapayan).
Kauswagan town mayor Rommel Arnado told Sun.Star Cagayan de Oro that the construction of the P50 billion worth 540 Megawatt (MW) coal-fired power plant will start in December this year.
The clearing operations of the plant facility have been completed and the construction of 310 single detach houses in the upper portion of Barangay Libertad is ongoing. Marinduque Industrial Enterprise Inc., former Marinduque Mining Corporation (MMC) donated the land to relocate the residents affected with the construction of the power plant. The municipal hall facilitates the relocation.
The residents will get the houses for free and will be provided with function hall, community store, plaza, potable water system, electricity, day care center, and health station.
Mayor Arnado said the coal-fired power plant project will use the state-of-the-art clean air technology under GN Power, an Oregon-based company from the United States. Its counterpart in the Philippines is PMR Incorporated in partnership with Ayala Corporation.
"Based on document presented by the investor earlier, the emission would be at .001 percent. By November, the Environment Compliance Certificate (ECC) hopefully will be in-placed and the construction of the power facility will start in December,’ Arnado said.
“For the first three years the coal plant will operate at 405MW," Arnado added.
The GN Power assured of a well-protected and balance environment that will be conducive for a healthy living condition for both residents in the coast and the upland, Arnado said.
"This would be the biggest and the cheapest power facility in Mindanao which will cater to the 33 electric cooperatives which are members of Association of Mindanao Rural Electric Cooperatives (AMRECO) and cover the power deficiency supply of Mindanao," he said.
Project benefits
"Aside from cheaper electricity, the town will earn a remarkable Real Property Tax, as a fifth class municipality, there would be greater chances to elevate and accelerate its classification into a second class town. By the time the plant will be fully operational, the projected revenue will soar to P100 million" Arnado said.
Employment opportunity for "Kauswaganon" (town residents) will be given priority to include some livelihood options and be a recipient of a special power rate.
In Maasim, Sarangani province, the P13-Billion Sarangani Energy Corporation (SEC) of Alsons Power is on track in completing the first 105 MW phase of the 210 MW, a coal-fired power plant in Maasim, Sarangani by September of 2015.
Oscar Benedict E. Contreras III, manager of communications and stakeholder relations, said the basic engineering and construction for the SEC plant began in June of 2012 and went into high gear with the official turnover of the construction site to the plant’s engineering, procurement and construction (EPC) contractor –- Daelim Industrial Co. Ltd, (Daelim) of South Korea last February 8.
Contreras said, the clearing operations for the plant site were completed on May 20.
Daelim and the SEC project team are currently preparing the power block area which will contain the SEC plant’s core components –- the circulating fluidized bed (CFB) boiler to generate steam from coal and the steam-driven turbine generator that will produce the electricity.
Production of the SEC plant’s state-of-the-art steam turbine generator is under way at the factory of Japan’s Fuji Electric Co., Ltd. in Kawasaki, Japan. Fuji Electric is a leading manufacturer and designer of turbines and generators for thermal, geothermal, hydroelectric and nuclear power plants, Contreras added.
The P13 billion SEC plant is intended to be part of a long-term solution to the current power shortage in Mindanao.
The full 105 MW capacity of the plant’s first phase has already been booked by various Mindanao power cooperatives including: the South Cotabato 2 Electric Cooperative, Inc. (SOCOTECO II), the Agusan Del Norte Electric Cooperative (ANECO), the Agusan Del Sur Electric Cooperative, Inc. (ASELCO) and the Davao Del Norte Electric Cooperative, Inc. (DANECO). The 10 MW of the plant’s second 105 MW phase has been booked by the South Cotabato I Electric Cooperative, Inc. (SOCOTECO-I).
The Phase two of the SEC plant is expected to begin operating by 2016.
Alsons Consolidated Resources, Inc. (ACR) –- the publicly-listed company of the Alcantara Group holds 75 percent equity in SEC while the remaining 25 percent is owned by Toyota Tsusho Corporation (TTC) –- the trading company of the Toyota Group.
Apart from the SEC plant, ACR is in the advanced stages of developing the 105 MW San Ramon Power, Inc. coal-fired power plant in Sitio San Ramon, Talisayan, Zamboanga City.
ACR’s other power subsidiaries include the Western Mindanao Power Corporation’s 100 MW diesel plant in Zamboanga City, the Southern Philippines Power Corporation’s 55 MW diesel plant in Sarangani province, Mapalad Power Corporation’s 98 MW Iligan Diesel Power Plant in Iligan City and the power plant operations and management company of Alto Power Management Corporation. source
Alsons income rises 26% to P610M in H1
(The Philippine Star) | Updated August 30, 2013 - 12:00am
MANILA, Philippines - Alsons Consolidated Resources Inc. (ACR), the publicly-listed holding company of the Alcantara Group, reported a net income of P609.8 million in the first semester of the year, 26 percent more than the P485.1 million recorded a year ago.
This as revenues rose 12 percent to P1.67 billion during the period from P1.49 billion a year ago, the company said in a disclosure to the Philippine Stock Exchange (PSE).
“The improved net income was aided by the booking of project development fees as other income coming from Sarangani Energy Corp. Earnings per share were at P0.043 in the first half of 2013 as against P0.026 for the first half of 2012,” ACR said.
By business segments, ACR’ power generation and power plant management subsidiaries emerged as the biggest contributors to the company’s revenue growth.
Energy fees earned by the Mindanao-based diesel power facilities rose 13 percent in the first half to P1.18 billion from P1.05 billion a year earlier.
In Mindanao, ACR operates power generation facilities run by its subsidiaries, including Southern Philippines Power Corp.’s 55-megawatt (MW) plant in Alabel, Sarangani; the 100-MW Western Mindanao Power Corp. plant in Zamboanga City; and the newly revamped Mapalad Power Corp. plant in Iligan City which began operating in the first half of 2013.
On top of these, the company is also developing two coal-fired facilities – the 105-MW San Ramon Power Inc. plant in Zamboanga City and the 210-MW Sarangani Energy Corp. (SEC) plant in Maasim, Sarangani. The first 105-MW phase of the SEC plant is currently under construction and will begin operating in 2015. ACR owns 75 percent of SEC with 25 percent equity held by Toyota Tsusho Corp. – the trading company of the Toyota Group, Alsons said.
The second largest revenue contributor is LiMA Technology Center (LTC) in Malvar, Batangas, an industrial estate joint venture with Japan’s Marubeni Corp. with power and water utility sales to LTC locators surging 16 percent to P452 million in the first half of 2013 from P390 million in the first half of 2012.
The Alcantara Group is also engaged in aquaculture and agribusiness, real property development and services. source
10 groups eye contract for Leyte geothermal plant
(The Philippine Star) | Updated August 30, 2013 - 12:00am
MANILA, Philippines - Ten companies have expressed interest in bidding for the management contract for the Unified Leyte geothermal power plant, the Power Sector Assets and Liabilities Management Corp. (PSALM) said yesterday.
The 10 prospective bidders are Aboitiz Renewables Inc., DMCI Power Corp.FDC Utilities Inc. Global Business Power Corp., Marubeni Corp., Philippine Associated Smelting and Refining Corp. (Pasar), PowerOne Ventures Energy Inc., Trans-Asia Oil and Energy Development Corp., Unified Leyte Geothermal Energy Inc. and Vivant Energy Corp.
In addition, there are 21 interested parties – including industrial corporations, electric cooperatives and private power firms – interested in the independent power producer administration (IPPA) selection for the strips of energy.
“This remarkable turnout of bidders, which notably includes the biggest players in the industry, indicates not only the private sector’s support for the government’s privatization initiatives, but also the private sector’s recognition of the reforms being undertaken by PSALM to ensure that the biddings are conducted in the most professional and transparent manner,” said PSALM president and CEO Emmanuel Ledesma Jr.
PSALM has set the opening of bids for Unified Leyte on Oct. 29, right after the lapse of the 10 a.m. bid submission deadline.
An IPPA can win the rights to strips of energy from the Unified Leyte that range from one megawatt up to a maximum of 40 MW. Out of the 240-MW sum of strips, only 200 MW will be offered to IPPAs, with the 40 MW remaining with PSALM as security capacity.
The IPPA for the bulk energy will have the right to the capacity in excess of the 240-MW sum of strips. The obligation to trade Unified Leyte’s total output (bulk and sum of strips) as well as the necessary registration applications required by the Wholesale Electricity Spot Market shall lie solely with the IPPA for the bulk energy, PSALM said.
The Unified Leyte plant is comprised of the 125-MW Upper Mahiao, 232.5-MW Malitbog, 180-MW Mahanagdong power plants, and the 51-MW optimization plants, PSALM said.
The plant, located in Tongonan, Leyte, is covered by power purchase agreements between state-run National Power Corporation and Lopez led Energy Development Corp. source
Power unit earnings Boost Alsons Consolidated income
Manila Bulletin
By Myrna M. Velasco
Published: August 30, 2013
The power generation business segment of Alsons Consolidated Resources Inc. (ACR) primarily boosted its first half consolidated income to P609.8 million, or a jump of 26 percent from the previous P485.1 million.
The listed firm’s attributable to parent income also climbed significantly by 66 percent to P270.9 million from the year-ago level of P163.3 million.
“ACR’s power generation and power plant management subsidiaries were the biggest contributors to the company’s revenue growth,” the Alcantara firm has noted in a press statement.
The second biggest contributor to its bottom line had been Lima Technology Center in Malvar, Batangas; with revenues going up 16 percent to P452 million from last year’s P390 million in the same period. This is a joint venture with Japanese firm Marubeni Corporation.
It added that “the improved net income was aided by the booking of project development fees as other income coming from Sarangani Energy Corporation.”
The company has been accelerating the development of various power projects, with the biggest capacity additions of up to 300 megawatts due around 2015 to 2016.
ACR stressed that in the first six months, its revenues went up by 12.0-percent to P1.67 billion from P1.49 billion. The listed firm’s earnings per share for the period increased to P0.043 versus P0.026 during last year’s first semester.
The company added energy fees from its Mindanao diesel-fired power facilities rose 13 percent to P1.18 billion from the previous year’s P1.05 billion.
The Alcantara firm is currently operating the 55-megawatt Southern Philippines Power Corporation plant in Alabel, Sarangani and the 100-MW Western Mindanao Power Corporation facility in Zamboanga City.
Its recently-acquired Mapalad Power diesel plant in Iligan City also shored up the company’s earnings. The plant is set for ramp up to 98MW capacity by end-September from its current generation of 76MW.
The Alcantara firm also reported recently its completion of 40 percent equity buy-back from partner Electricity Generating Public Company (EGCO) of Thailand. source
By Myrna M. Velasco
Published: August 30, 2013
The power generation business segment of Alsons Consolidated Resources Inc. (ACR) primarily boosted its first half consolidated income to P609.8 million, or a jump of 26 percent from the previous P485.1 million.
The listed firm’s attributable to parent income also climbed significantly by 66 percent to P270.9 million from the year-ago level of P163.3 million.
“ACR’s power generation and power plant management subsidiaries were the biggest contributors to the company’s revenue growth,” the Alcantara firm has noted in a press statement.
The second biggest contributor to its bottom line had been Lima Technology Center in Malvar, Batangas; with revenues going up 16 percent to P452 million from last year’s P390 million in the same period. This is a joint venture with Japanese firm Marubeni Corporation.
It added that “the improved net income was aided by the booking of project development fees as other income coming from Sarangani Energy Corporation.”
The company has been accelerating the development of various power projects, with the biggest capacity additions of up to 300 megawatts due around 2015 to 2016.
ACR stressed that in the first six months, its revenues went up by 12.0-percent to P1.67 billion from P1.49 billion. The listed firm’s earnings per share for the period increased to P0.043 versus P0.026 during last year’s first semester.
The company added energy fees from its Mindanao diesel-fired power facilities rose 13 percent to P1.18 billion from the previous year’s P1.05 billion.
The Alcantara firm is currently operating the 55-megawatt Southern Philippines Power Corporation plant in Alabel, Sarangani and the 100-MW Western Mindanao Power Corporation facility in Zamboanga City.
Its recently-acquired Mapalad Power diesel plant in Iligan City also shored up the company’s earnings. The plant is set for ramp up to 98MW capacity by end-September from its current generation of 76MW.
The Alcantara firm also reported recently its completion of 40 percent equity buy-back from partner Electricity Generating Public Company (EGCO) of Thailand. source
Hedcor pursues dam
Manila Standard Today
By Alena Mae S. Flores | Posted on Aug. 30, 2013 at 12:01am
Hedcor Inc., a unit of Aboitiz Power Corp., is pursuing the construction of the 12-megawatt Tamugan hydropower project in Davao City next year, after a delay of several years.
By Alena Mae S. Flores | Posted on Aug. 30, 2013 at 12:01am
Hedcor Inc., a unit of Aboitiz Power Corp., is pursuing the construction of the 12-megawatt Tamugan hydropower project in Davao City next year, after a delay of several years.
“We hope to start construction within mid next year and then that will be take two years to build,” Hedcor president Rene Ronquillo said.
Ronquillo said Hedcor was in talks with the Davao City Council on the project, which has been downscaled from 32 MW due to issues raised by the Davao City Water District related to water supply.
Davao Water, which supplies water to 150,000 customers in Davao, earlier said project would threaten the city’s limited supply. It claimed that the Tamugan River was the only viable source of water for Davao City. The Tamugan power project will utilize the natural waterflow of the Panigan and Tamugan Rivers. source
Thursday, August 29, 2013
Agus facility upgrade deal draws more interest
Business World Online
Posted on August 29, 2013 10:14:18 PM
ANOTHER COMPANY has expressed interest in the auction of the contract to upgrade two units of the Agus VI hydroelectric power plant in Mindanao, bringing the total number of potential bidders to eight, the Power Sector Assets and Liabilities Management Corp. (PSALM) said in a statement yesterday.
Last Tuesday, PSALM said seven companies were keen on the uprating of the first two units of the Agus VI hydroelectric power plant.
These firms were identified as: Alstom Philippines, Inc.; China International Water and Electric Corp.; HydroChina ZhongNan Engineering Corp.; Kaltimex Energy Philippines, Inc.; PHP Philippine Hydro Project, Inc.; Vicente T. Lao Construction; and Zhejiang Fuchunjiang Hydropower Equipment Co. Ltd.
“We are happy with the turnout and we hope everyone submits a bid.
Other interested parties may still join this procurement project even until bidding day, as long as they purchase the bidding documents and submit documentary requirements,” PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr. had said.
PSALM, in its invitation to bid published last month, required interested parties to pay a non- refundable fee of P100,000 for the bidding documents.
The company has approved a P2.598-billion budget for the contract.
In a pre-bid conference last July 30, interested firms were briefed on bidding procedures, as well as technical specification and requirements of the project.
The auction -- which will take place at PSALM’s office in Makati City -- has been scheduled on Sept. 30.
The uprating project intends to increase the power output of the first and second units of the Agus VI power plant from 25 megawatts (MW) to 34.5 MW each, PSALM said.
“The project will include the investigation, design, engineering, manufacturing, installation, testing and commissioning of the new hydro power turbines and blades of the two Agus VI power units, as well as replacement of electrical equipment, materials and devices necessary for the safe and reliable operation of the power facilities,” it added.
The state-run firm said the project is expected to be completed within 900 calendar days upon awarding of the contract.
The 200-MW Agus VI run- of-river hydro plant is located in Iligan City, Lanao del Norte. The plant consists of two units with combined capacity of 50 MW; and three units with total capacity of 150 MW.
The power plant is part of the Agus-Pulangui hydro power facility, which provides more than half of Mindanao’s electricity supply.
Under the Republic Act 9136 or the Electric Power Industry Reform Act of 2001, PSALM is mandated to manage the privatization and maintenance of National Power Corp.’s power generation assets, liabilities and contracted capacities. -- Claire-Ann Marie C. Feliciano source
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