by Myrna Velasco May 17, 2016
The energy arm of San Miguel
Corporation will be on extensive capital spending of US$4.2 billion for five
new power projects of 2,100 megawatts capacity in Mindanao and Luzon grids.
In a briefing with reporters
yesterday, San Miguel President Ramon S. Ang noted that the company will be
putting up three additional power projects to underpin the development of three
industrial estates in various parts of Mindanao.
That portion of their investment
plan, he said, will command aggregate capital outlay of $1.8 billion.
The per-megawatt spending penciled
in by the company is $2.0 million – which is generally the rule-of-thumb cost
for coal-fired power projects.
“Per industrial estate, the
requirement is around 400MW,” he said, although their proposed power plant development
will be at 300MW in every area.
These would be on top of the 600MW
Malita Davao coal-fired power plant that will partly feed its capacity to an
embedded San Miguel-owned industrial estate being pioneered in that domain.
Ang is confident of “brisk economic
growth” for Mindanao, especially with renewed confidence that is partly
propelled by the election of a new president from Davao City.
“We want to create more job
opportunities for the Filipino people, and at the same time, provide a site for
investors wanting to locate in Mindanao,” he stressed.
The other two major greenfield power
developments in San Miguel Energy Corporation’s (SMEC)blueprint will be sited
in Luzon for total capacity of 1,200MW.
These are the 600MW Central Luzon
Power Corporation project in Pagbilao, Quezon; and 600MW Mariveles Power
Generation project in Bataan.
The two projects are expected
advancing to development phases soon as these are already underpinned by power
supply agreements (PSAs) recently signed with power utility giant Manila
Electric Company.
SMEC is currently the country’s
biggest power industry player – and these project expansions will further
cement its stronghold in the deregulated electricity market.
No comments:
Post a Comment