Business Mirror
Published on Monday, 21 January 2013 19:29 Written by Manuel T. Cayon / Reporter
DAVAO CITY—Aboitiz Power Corp. has already sold nearly half of its 300-megawatt (MW) capacity coal power plant here in only two months, even if the plant will be completed in 2015.
The inadequate power supply hounding the island since the past decade appeared to be the primary reason eight electric cooperatives rushed for priority advanced power supply agreement with the AboitizPower subsidiary, Therma South Inc. (TSI), which owns the plant.
The future supply from this coal plant would be the desired reliable baseload of these cooperatives after the hydroelectric-dependent Mindanao grid continues to conk out, especially during crucial moments.
TSI signed the power supply contracts reaching 141 MW with eight Mindanao electric cooperatives and distribution utilities between October 25 and December 18 last year, the statement from the AboitizPower said.
The contracts, however, are still subject for review and approval by the Energy Regulatory Commission.
The cooperatives which signed for the 25-year power supply contracts are Misamis Occidental First Electric Cooperative, Agusan Sur Electric Cooperative, Surigao del Sur Electric Cooperative II, Cotabato Electric Cooperative, Davao Oriental Electric Cooperative and Sultan Kudarat Electric Cooperative. Aboitiz-owned distribution utilities Davao Light & Power Co. and Cotabato Light & Power Co. also signed long-term deals.
“We are greatly honored by this trust of our customers,” said Benjamin A. Cariaso Jr., president and chief operating officer of Therma South.
He said TSI is on track to complete the project by early 2015, with almost 1,000 employees working on the project site in Toril district, southwest of Davao City. source
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