Business Mirror
Published on Monday, 04 March 2013 19:21 Written by Lenie Lectura / Reporter
ALSONS Energy Development Corp. (AEDC) of the Alcantara group and Sagittarius Mines Inc. (SMI) have entered into an agreement to jointly develop a new 400-megawatt (MW) coal plant.
The facility will serve the requirements of the Tampakan mine, they said in a joint statement announced on Monday. AEDC is a subsidiary of conglomerate Alsons Consolidated Resources Inc. (ACR).
Under the agreement, AEDC will develop a new open cycle gas turbine and coal-fired power statio in the Kamanga agro-industrial ecozone at Barangay Kamanga in Maasim, Sarangani, to supply the proposed mine.
The new power facility be owned and operated by A/S Power Development Inc. (APDI), an ACR power subsidiary specifically organized to establish and manage the 400-MW plant.
Details for the project financing have yet to be finalized but these will be finalized within the year.
The APDI power plant will be able to ramp up power generation by 2017 and the plant is expected to be fully operational by the middle of 2019. The agreement is subject to SMI securing the necessary community, government and shareholder approvals for the Tampakan mine project.
SMI selected AEDC as its preferred power generation supplier following studies into the technical, environmental and commercial viability of a range of power generation options. The Alcantara group, meanwhile, is a long-standing developer, owner and operator of power-generation facilities in Mindanao, with an established record of operational experience and technical expertise.
As part of the process for securing an environmental compliance certificate for the APDI plant, AEDC conducted consultation talks with stakeholders regarding the facility in September 2012.
“SMI and AEDC are committed to ongoing stakeholder engagement, characterized by open, fair and transparent dialogue, regarding their development plans,” their statement read. source
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