Danessa Rivera (The Philippine Star)
- April 16, 2018 - 12:00am
MANILA, Philippines — The Visayas
grid is expected to get a capacity boost as the 340-megawatt coal-fired power
plant of the group of AboitizPower Corp. and Vivant Corp. is expected to come
online by mid-2018.
Therma Visayas Inc. (TVI) is working
on grid connection and energization of the power plant, Vivant said in its
annual report.
TVI is the project company
constructing the 2x170 MW coal-fired power generation facility in Toledo City,
Cebu.
It is 80 percent owned by
AboitizPower subsidiary Therma Power Inc. and 20 percent by Vivant Integrated
Generation Corp.
VIGC is a subsidiary of Vivant
through wholly-owned Vivant Energy Corp. (VEC).
TVI tapped Hyundai Engineering Co.
Ltd. and Galing Power Energy Co. Inc. as the engineering, procurement and
construction (EPC) contractor for the project.
Construction of the power project
commenced in March 2015 after the company issued the notice to proceed for all
EPC activities.
Moving forward, Vivant is
continuously looking for greenfield, brownfield, or acquisition opportunities
in the power generation business.
Vivant conducts an extensive
evaluation process before any proposed project is undertaken, including the
project’s land use requirements, access to the grid, fuel supply availability
and arrangements, permits and licenses, competitiveness of the plant and
presence of potential off-takers.
The company earlier said it was
pouring in P67 billion for new power generation projects in three years
starting 2015 as part of the company’s strategy of continuously expanding in
the power industry.
As of the end of 2017, Vivant had an
attributable capacity of 337 MW, comprising of both renewable and non-renewable
power generation plants.
Late last year, Vivant firmed up its
partnership with Global Business Power Corp. (GBP) to put up a 670-MW coal
fired power plant in La Union.
The two firms will jointly
participate through Lunar Powercore Inc. in a project under a special purpose
vehicle Global Luzon Energy Development Corp. (GLEDC).
GLEDC will undertake the financing,
design, procurement, construction, testing, commission, operation and
maintenance of the coal-fired power plant.
VIGC and GBPC have allocated P450
million to complete the project by 2022.
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