By Danessa Rivera (The
Philippine Star) | Updated April 29, 2016 - 12:00am
MANILA, Philippines - Semirara
Mining and Power Corp. has formalized its partnership with Manila Electric Co.
(Meralco) for the expansion of the Calaca coal-fired power plant in Batangas.
In a disclosure to the Philippine
Stock Exchange, Semirara said it executed and entered into a joint venture
agreement with Meralco Powergen Corp., Meralco’s power generation arm, “for the
purpose of owning, constructing and operating a 2x350-MW coal fired power plant
to be located in Calaca, Batangas.”
The partners put up a project
company for the power plant, called St. Raphael Power Generation Corp., which
will build two single units of 350 megawatts each.
Semirara said it has secured an
environmental compliance certificate on Sept. 17, 2015 from the Department of
Environment and Natural Resources.
Earlier this month, Semirara
chairman Isidro Consunji announced the possible partnership with Meralco and
Marubeni Corp. of Japan for the expansion phase of the Calaca power plant.
He said the structure of the
proposed partnership is likely to be 40-40-20, with DMCI Group and Meralco
getting the larger shareholdings.
Meralco president Oscar Reyes said
the new joint project will form part of the group’s 3,000 MW target portfolio.
The new power plant will be the
second phase expansion of the Calaca power plant, which has an initial capacity
of 600 MW.
A new 2x150 MW power plant under
Southwest Luzon Power Generation Corp. was completed last year, which is the
first phase expansion of the facility.
It started commercial operations
last February, originally targeted in December 2015.
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