business mirror
MONDAY, 27 AUGUST 2012 19:09 PAUL ANTHONY A. ISLA / REPORTER
LISTED First Gen Corp. and Meralco PowerGen Corp. are in talks for a possible partnership that will put up the 300 to 500 megawatt (MW) San Gabriel natural gas-fired power plant in Batangas.
Francis Giles Puno, First Gen president, confirmed to reporters that talks were going on between his company and Meralco PowerGen, but no definite agreement has taken place yet.
Aaron Domingo, Meralco PowerGen general manager, said they are talking with First Gen, among other companies, in line with Manila Electric Co.’s (Meralco) target to put up as much as 2,500 MW of generating capacity.
Domingo said they are in constant dialogue with “everyone” in the market, as part of their mandate to develop competitive and reliable power.
First Gen earlier said it can now proceed with the San Gabriel project after it completed buying out the BG Group’s stake in its natural gas power projects.
First Gen acquired BG’s 40-percent stake in its gas power projects for $360 million.
“Yes, we can now proceed. We’ve been working on San Gabriel for a long time but quietly,” Federico Lopez, First Gen chairman, earlier said.
Puno said the San Gabriel expansion hinges on the availability of natural gas and that talks are ongoing with the Malampaya consortium members and the Department of Energy.
The Malampaya gas field in northwest Palawan powers the 1,000 MW Sta. Rita and 500 MW San Lorenzo power plants in Batangas. source
No comments:
Post a Comment