Updated
By Myrna M. Velasco
The energy investment
arm of San Miguel Corp. (SMC) will invest $2.4 billion as fresh capital for two
new power projects to satiate the country’s long-term power supply.
SMC President
Ramon S. Ang said the company is ready to finally take-off from blueprints its
two coal-fired power plant projects that will add 1,200-megawatt capacity for
Luzon grid. These targeted ventures are the 600MW coal-fired facility in
Pagbilao, Quezon and the 600MW plant in Mariveles, Bataan.
The SMC executive
indicated that the sites are now ready for the two power projects that will be
equipped with circulating fluidized bed (CFB) boiler technology – which is also
designed to be of multi-fuel capability.
While pre-construction
works are ongoing, Ang added that application processes for environmental
compliance certificates (ECCs) of the projects with the Department of
Environment and Natural Resources (DENR) are ongoing.
He qualified though
that the missing middle in this investment foray is the competitive selection
process (CSP) that must be carried out by Manila Electric Company (Meralco), so
the targeted facilities could offer their capacity for off-take or power supply
agreements.
The two power plant
projects had been among those affected by the Supreme Court decision that
upheld the conduct of CSP or competitive bidding for all PSAs underwritten by
private distribution utilities and the electric cooperatives.
For these two projects
to finally move headway, Ang said, “We submit ourselves to CSP (and) we have
advised Meralco to start the CSP process already.”
With the supply
tightness recurrently experienced in the Luzon grid, Ang said that building
power plants should have started as early as three years ago – especially so
since there are a lot of hurdles delaying project implementations, one of which
is securing ECCs with the environment department.
The coal
technology-underpinned baseload capacity addition in SMC’s portfolio will be
pursued alongside investment plans of shoring up its renewable energy capacity.
Ang said the company
plans 1,200MW of RE capacities – which shall be a mixed of solar, wind and
pumped hydro generating assets across Luzon, Visayas and Mindanao power grids.
SMC currently has the
San Roque hydropower facility as its major RE capacity, but Ang noted they are
eyeing additional projects on this technology domain primarily in Luzon and
Visayas grids.
For the targeted solar
ventures, he said that various sites are already being prepared while for wind
installations, the prospects are in Mariveles, Bataan and Badoc, Ilocos Norte.
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