Business Mirror
Published on Thursday, 18 April 2013 18:43 Written by Lenie Lectura / Reporter
SOUTH Luzon Thermal Energy Corp. (SLTEC), the joint-venture firm between Ayala Corp. unit AC Energy Holdings Inc. and Phinma-led Trans-Asia Oil and Energy Development Corp., has sealed a deal with the latter for the expansion of a power plant in Batangas.
A purchase power agreement was signed between the two companies for the purchase of generated output of SLTEC’s second 135- megawatt (MW) power plant unit. The contract is valid for 13 years.
Early this week, SLTEC announced plans to expand its thermal power plant in Batangas with the construction of a second unit of the Calaca facility. The target commercial operation is set three years from now.
Both AC Energy and Trans-Asia have each committed to pour in P1.5 billion for the said project, which Trans-Asia earlier estimated to cost around P10 billion.
SLTEC has tapped Consunji-owned DMCI Holdings, through wholly owned subsidiary D.M. Consunji Inc. for the construction of the power plant’s expansion phase.
DMCI, together with China National Technical Import and Export Corp., will construct the turn-key second 135-MW coal-fired fluidized bed (CFB) unit next to the currently under construction Unit 1 in Calaca, Batangas.
In a separate disclosure to the stock exchange on Thursday, Trans-Asia signed with DirectPower Services Inc. a contract for the sale of electricity.
Under the deal, Trans-Asia will supply electricity to DirectPower of a combined peak demand of up to 106.71 MW, valid for 11 years commencing on June 26.
The said date is the start of the Retail Competition and Open Access regime in which large power users will be able to choose their own suppliers, in contrast with the current system where they are limited to the supplier that has jurisdiction over their areas.
Mandated under the Electric Power Industry Reform Act, open access is expected to spur competition among players. source
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