EGCO Group powers up San Buenaventura coal plant in the Philippines
Commercial operations began on Thursday for the San Buenaventura, Philippines, power plant managed by San Buenaventura Power Co Ltd (SBPL), a joint venture company of EGCO Group and Meralco PowerGen Corporation, Jakgrich Pibulpairoj, the president of Electricity Generating Public Co Ltd, announced.
EGCO Group owns 49 per cent of the joint venture, while Meralco has 51 per cent.
The new power plant is expected to consistently generate revenues for the company, with earnings recongised starting in the fourth quarter of 2019, he said.
It will help ensure a more stable supply of power on Luzon Island, the Philippines.
The San Buenaventura facility, located at the site adjacent to the existing Quezon power plant in Mauban, Quezon Province, is a coal-fired power plant utilising highly efficient supercritical boiler technology with the advantage of promoting efficient fuel consumption.
The power plant has a gross output capacity of 500 megawatts, of which the entire net capacity of 455 MW is contracted for sale to the Manila Electric Company (Meralco) under a 20-year power supply agreement with five-year term extension.
With this power plant, EGCO Group boasts 27 operating power plants with total equity contracted capacity of 5,315 MW in six countries – Thailand, Lao PDR, Philippines, Indonesia, Australia and South Korea.
There are three projects now under construction with total equity contracted capacity of 331 MW. The company’s power plants generate electricity using various fuel sources such as natural gas, LNG, coal, biomass, hydro, solar, wind, geothermal and fuel cell.
