Published July 12, 2017, 10:01 PM By Myrna M.
Velasco
Aboitiz Power Corporation and two
foreign firms are reportedly in the shortlist of the final choices that the
power generation subsidiary of Manila Electric Company (Meralco) would be
choosing from on prospective partnership for the 1,200-megawatt Atimonan
coal-fired power project, according to highly placed sources.
Of the two foreign companies eyeing
to be part of the coal plant venture, it was hinted that Thai firm Ratchaburi
Power Co. Ltd. is one of them; while the other is a Japanese firm but of which
identity had remained under wraps.
Meralco Chairman Manuel V.
Pangilinan previously told reporters that they have “at least four in the
shortlist” of partner-choices in the Atimonan project.
He apprised media then that “up to
49 percent (in equity) is under negotiation,” while emphasizing that “Meralco
at least will be picking one, depending on the final thinking on how much we
should own.”
The Atimonan power project will be
under the development charge of Meralco PowerGen (MGen), the generation company
arm of Meralco for most of its power plant developments in the Luzon grid. The
corporate vehicle for that particular project would be Atimonan One Energy
(A1E), Inc.
From that list back in June, it was
gathered that the South Korean group had already opted out from the targeted
partnership bid in the Atimonan project.
The Atimonan coal-fired power
facility will be of two units at 600MW capacity each and will be equipped with
the ultra super critical (USC) boiler, the most advanced of such technology
type to be deployed in the country.
The power plant venture will command
total investment of R135 billion; and R100 billion or 75-percent of the funding
component will be infused through borrowings.
Beyond financial closing and award
of the planned facility’s engineering, procurement and construction (EPC)
contract, the project would primarily need to secure regulatory approval on the
power supply agreement (PSA) underpinning its generation capacity.
The Energy Regulatory Commission
(ERC) has already given commitment to resolve the supply deal approval in the
next three months, with consideration yet to tackle the intervention pleas of
some opposing parties.
The project’s advancement to
construction could not happen until its PSA is approved, and that could also
delay the completion timeframe targeted in year 2021.
No comments:
Post a Comment