by Myrna Velasco February 4, 2016
The series of aero-derivate and
gas-fired power projects being developed by First Gen Corporation will have
deferred completion targets, according to data currently issued by the
Department of Energy. (DOE)
Firstly, the 100-megawatt Avion
aeroderivate-equipped facility of the Lopez firm is just reported having its
commissioning phase February this year, several months behind from last year’s
target.
The DOE project status report has
indicated that the targeted commercial operation should have been August last year;
but this is now seen skidding to second half this 2016.
The department qualified that the
facility’s commercial operations had been primarily anchored on the
availability of additional gas supply from the Malampaya field.
For the 414-MW San Gabriel gas-fed
power project of the Lopez conglomerate, it is anticipated to be coming full
stream commercially December this year. Testing and commissioning is eyed March
this year.
The company previously announced
that it was eyeing the facility on-line before June, 2016 or prior to the
conclusion of the Aquino administration, but due to some hurdles along the way,
schedules have been moved.
As declared to the energy
department, the project cost for San Gabriel project had been set at US$600
million; while investment for Avion facility was pegged at P10 billion.
First Gen has blueprinted for a
second phase of its greenfield gas power facility development via the planned
Sta Maria power project which will also be of 414MW capacity.
Executives of the company have previously
indicated though that implementation plans will be reviewed depending on what
will be the need of country’s power system when investment decisions are to be
firmed up.
The bigger scale investment
trajectory of the Lopez group will be to integrate an onshore liquefied natural
gas (LNG) terminal to supply the long-term requirements of its gas-fired
plants.
That will then command an additional
capital outlay of at least US$1.0 billion, depending on the scale and capacity
of the LNG handling facility.
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