- Published : Monday, July 25, 2011 00:00
- Written by :
Federico Puno, TeaM Energy president, said the company is keen on increasing its power generating capacity by at least 600 megawatts through the expansion of its existing power plants and the construction of a new facility.
”We’re looking at maybe additional greenfield project of either coal or LNG, in addition to expansion of Pagbilao and Sual plants.
What we would like is at least 600 megawatts. Start with 300 megawatts, because our problem is after the cooperation period of Sual and Pagbilao is finished, we don’t have power capacity,” Puno said.
TeaM Energy is the consortium of Tokyo Electric Power Company and Marubeni Corporation that bought the Philippine assets of US-based Mirant Corporation for $3.4 billion in 2007. These assets include the 1,200-megawatt Sual and 700-megawatt Pagbilao coal plants.
The coal plants were under build-operate-transfer contracts with state-owned National Power Corporation, which buys the electricity they produce. The contracts for Sual and Pagbilao have since been privatized to San Miguel Corporation and Aboitiz Power Corporation.
TeaM Energy will have to turn over the assets to the two conglomerates by 2025 once the BOT period lapses.
Although TeaM Energy is keen on the facilities’ expansion, the company would have to complete a feasibility study and submit this to SMC and AP for their approval.
”We have to look at the capacity coming in, the timing. [Others] also want to expand [so] there might be congestion,” Puno said.
Aside from the plants’ expansion, TeaM Energy is also looking at putting up a new coal or liquefied natural gas plant.
Although the latter would entail the construction of an LNG storage terminal, other related facilities and at least a 1,000-megawatt plant, Puno said that one of the company’s owners has acces to LNG fuel that could be used for the proposed facility.
”Marubeni has access to LNG supply. If we do LNG, you have to put up your own receiving facility [and] you need to have at least 1,000 megawatts as host power plant to justify it,” the executive said.
TEPCO is the company that operates the Fukushima Daichi nuclear power complex that incurred serious damage from the earthquake and tsunami that hit Japan last March.
The company is in discussions with the Japanese government on possible claims from the facilities’ break down.
Despite this, Puno said that TeaM Energy’s expansion plans will continue as news that TEPCO’s international business could soon be sold are nothing but speculation.
”The Fukushima incident does not affect TeaM Energy plan to put up greenfield projects as well as expand the Pagbilao and Sual (plants),” he added.
”We’re looking at maybe additional greenfield project of either coal or LNG, in addition to expansion of Pagbilao and Sual plants.
What we would like is at least 600 megawatts. Start with 300 megawatts, because our problem is after the cooperation period of Sual and Pagbilao is finished, we don’t have power capacity,” Puno said.
TeaM Energy is the consortium of Tokyo Electric Power Company and Marubeni Corporation that bought the Philippine assets of US-based Mirant Corporation for $3.4 billion in 2007. These assets include the 1,200-megawatt Sual and 700-megawatt Pagbilao coal plants.
The coal plants were under build-operate-transfer contracts with state-owned National Power Corporation, which buys the electricity they produce. The contracts for Sual and Pagbilao have since been privatized to San Miguel Corporation and Aboitiz Power Corporation.
TeaM Energy will have to turn over the assets to the two conglomerates by 2025 once the BOT period lapses.
Although TeaM Energy is keen on the facilities’ expansion, the company would have to complete a feasibility study and submit this to SMC and AP for their approval.
”We have to look at the capacity coming in, the timing. [Others] also want to expand [so] there might be congestion,” Puno said.
Aside from the plants’ expansion, TeaM Energy is also looking at putting up a new coal or liquefied natural gas plant.
Although the latter would entail the construction of an LNG storage terminal, other related facilities and at least a 1,000-megawatt plant, Puno said that one of the company’s owners has acces to LNG fuel that could be used for the proposed facility.
”Marubeni has access to LNG supply. If we do LNG, you have to put up your own receiving facility [and] you need to have at least 1,000 megawatts as host power plant to justify it,” the executive said.
TEPCO is the company that operates the Fukushima Daichi nuclear power complex that incurred serious damage from the earthquake and tsunami that hit Japan last March.
The company is in discussions with the Japanese government on possible claims from the facilities’ break down.
Despite this, Puno said that TeaM Energy’s expansion plans will continue as news that TEPCO’s international business could soon be sold are nothing but speculation.
”The Fukushima incident does not affect TeaM Energy plan to put up greenfield projects as well as expand the Pagbilao and Sual (plants),” he added.
No comments:
Post a Comment