Posted on September 01, 2016
A SUBSIDIARY of Semirara Mining and Power Corp.
(SMPC) has started the commercial operation of the third and fourth units of
its coal-fired power plant in Calaca, Batangas on Aug. 26, the Consunji-led
company said.
The plant, which is under SMPC’s
Southwest Luzon Power Generation Corp., is currently running at a capacity of
140 megawatts (MW) per unit, the listed firm said in a disclosure. The units’
full capacity is at 150 MW each.
“Said date is also the effective date of its participation in the Wholesale Electricity Spot Market (WESM),” SMPC told the stock exchange, adding that the move was in line with the provisional authority granted to it by the regulator.
The commercial run comes after SMPC disclosed that units three and four started to run “stably” in the last week of March 2016 “but not yet at full capacity of 150 MW per unit.” During this period, the units sold around 757 gigawatt-hours to the spot market.
The Calaca plant’s first and second units, each with a capacity of 150 MW, started testing and commissioning in 2015. They were synchronized to the grid in July and August of that year, respectively.
Although the two units reached their maximum capacity of 150 MW in September and December, respectively, this was not sustained at that time.
Based on data from the Department of Energy (DoE), units one and two were given provisional authority to operate on May 12, 2016.
DoE data also show that the project’s first phase -- or the first and second units -- was able to secure a financial arrangement of 60% loan and 40% equity. It broke ground in May 2012, and its project cost was listed at P20.4 billion. The project cost for the second phase -- or the third and fourth units -- was placed at P19.86 billion.
SMPC, which formerly derived revenues mainly through the production and sale of sub-bituminous coal, has expanded its business to include power generation through wholly owned subsidiaries.
As of last year, it has seven units, namely: Sem-Calaca Power Corp., Sem-Cal Industrial Park Developers, Inc., Semirara Claystone, Inc., Semirara Energy Utilities, Inc., Sem-Balayan Power Generation Corp., St. Raphael Power Generation Corp. and Southwest Luzon Power.
Shares in SMPC closed on Tuesday at P112.20 each, up 0.36% from P111.80 last Friday. -- Victor V. Saulon
“Said date is also the effective date of its participation in the Wholesale Electricity Spot Market (WESM),” SMPC told the stock exchange, adding that the move was in line with the provisional authority granted to it by the regulator.
The commercial run comes after SMPC disclosed that units three and four started to run “stably” in the last week of March 2016 “but not yet at full capacity of 150 MW per unit.” During this period, the units sold around 757 gigawatt-hours to the spot market.
The Calaca plant’s first and second units, each with a capacity of 150 MW, started testing and commissioning in 2015. They were synchronized to the grid in July and August of that year, respectively.
Although the two units reached their maximum capacity of 150 MW in September and December, respectively, this was not sustained at that time.
Based on data from the Department of Energy (DoE), units one and two were given provisional authority to operate on May 12, 2016.
DoE data also show that the project’s first phase -- or the first and second units -- was able to secure a financial arrangement of 60% loan and 40% equity. It broke ground in May 2012, and its project cost was listed at P20.4 billion. The project cost for the second phase -- or the third and fourth units -- was placed at P19.86 billion.
SMPC, which formerly derived revenues mainly through the production and sale of sub-bituminous coal, has expanded its business to include power generation through wholly owned subsidiaries.
As of last year, it has seven units, namely: Sem-Calaca Power Corp., Sem-Cal Industrial Park Developers, Inc., Semirara Claystone, Inc., Semirara Energy Utilities, Inc., Sem-Balayan Power Generation Corp., St. Raphael Power Generation Corp. and Southwest Luzon Power.
Shares in SMPC closed on Tuesday at P112.20 each, up 0.36% from P111.80 last Friday. -- Victor V. Saulon
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