Monday, January 21, 2013
ABOITIZPOWER subsidiary Therma South Inc., signed close to half of its capacity in a little over two months, underlining the need for a reliable baseload capacity in Mindanao to solve the island's ongoing power crisis.
TSI, which is building its 300-megawatt (MW) clean coal power plant in Davao City, signed power supply contracts worth 141 MW with eight Mindanao electric cooperatives and distribution utilities between October 25 and December 18, 2012.
The contracts, including the rates for the power supply, will be subject for review and approval by the Energy Regulatory Commission (ERC).
"We are greatly honored by this trust of our customers and we will continue to work hard to build a world-class power plant that the people of Mindanao will be proud of," Therma South president and chief operating officer Benjamin A. Cariaso Jr. said.
"Most of these customers have already experienced the reliable and dependable service of AboitizPower through their existing contracts with Therma Marine. We, at Therma South, will live up to these very high expectations as befitting an AboitizPower company," he added.
With close to a thousand employees working on the project site and growing, Cariaso said Therma South is on track to complete the project by early 2015.
The completion of the Therma South power plant is seen as the biggest, most immediate resolution of the crisis.
Misamis Occidental First Electric Cooperative (Moelci I) board president Hurlito Paderanga said TSi is way ahead of the construction of its power plant and will provide solution to their power supply problems faster.
"What our cooperative experienced with Therma Marine, Inc. (TMI) is enough proof that Therma South, Inc. (TSI) can and will deliver on time, reliable and affordable power," Paderanga said.
Agusan Sur Electric Cooperative president Joel Jumonong also added that the economy of their franchise area is growing very rapidly and they need to secure their member's long-term power needs.
Therma South is part of the P35-billion plan of AboitizPower to provide additional capacity to solve the Mindanao power crisis.
Aside from Therma South, run-of-river developer Hedcor is also building 13.6 MW from Tudaya 1 and 2 in Sta. Cruz, Davao del Sur.
Other cooperatives who wigned up for 25-year power supply contracts are Surigao del Sur Electric Cooperative II (Surseco II), Misamis Occidental 1 Electric Cooperative (Moelci 1), Cotabato Electric Cooperative (Cotelco) and Sultan Kudarat Electric Cooperative (Sukelco).
Distribution utilities Davao Light & Power Company (DLPC) and Cotabato Light & Power Company (CLPC) also signe long term deals. source
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