By Alena Mae S. Flores Posted on Jun 14, 2013 at 12:01am
San Miguel Corp. plans to expand the capacity of its Davao coal project by an additional 900 megawatts, bringing total capacity to 1,200 MW by 2020, documents showed.
Energy Department records showed San Miguel through subsidiary San Miguel Consolidated Power Corp. planned a three-phase expansion for the Davao coal project.
The first phase involves the construction of two 150-MW units in Culaman, Malita, Davao del Sur. The first 150-MW project is due for completion by October 2015 while the second 150-MW is targeted for completion by March 2016.
Land acquisition for the first phase, estimated to cost $630 million, was completed while supply contract negotiation with prospective buyers was ongoing.
The second phase involves another 300-MW project in the same area, which is expected to be completed by 2018.
The third phase involves two units of 300-MW capacity, which is due for completion by 2019 and 2020, respectively.
San Miguel president Ramon Ang earlier confirmed plans to construct the 300-MW coal plant, which would be fueled by the company’s coal mines in Mindanao.
Sources said earlier the Mindanao coal project would utilize “clean coal technology circulating fluidized bed boiler and use SMC-owned and operated coal mines thus will provide an affordable and reliable supply in Mindanao.”
The source added San Miguel would to offer competitive rates to the electric cooperatives because of the cheaper fuel coming from the Daguma mines also owned by the conglomerate.
San Miguel acquired Daguma Agro Minerals Inc. and Bonanza Energy Resources Inc. for $25 million in 2010. source
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