by Riza Olchondra, February 5, 2015
from Philippine Daily Inquirer
MANILA, Philippines–The Aboitiz group is on track with the $340-million expansion of its coal-fired baseload plant in Cebu province, which will break ground within the year.
When the expansion is complete, the 340-megawatt (MW) Therma Visayas coal-fired power plant will have a capacity of 510MW.
AboitizPower SVP for power marketing and trading Miguel Aboitiz told reporters on the sidelines of the Energy Regulation Forum in Makati City that the company was finalizing arrangements with engineering, procurement and construction (EPC) contractor Hyundai Engineering Co.
“We have an EPC, we’re just finalizing the agreements and terms and then we have to give the notice to proceed,” Aboitiz said, adding that the company was partnering with Vivant Energy Corp. on the expansion.
Aboitiz Equity Ventures Inc. president and CEO Erramon I. Aboitiz earlier said the group would spend about $340 million each for Cebu and Davao, or a total of $680 million. AEV is the holding firm of the Aboitiz family’s businesses. AboitizPower is the power generation and distribution arm.
“We are anticipating the notices to proceed (for the additional units) to be issued by March 2015,” Aboitiz said.
AEV unit AboitizPower earlier announced that its board of directors approved the construction of a third unit each for the 340-megawatt (MW) plant in Cebu and 300-MW plant in Davao.
Each facility will have a third unit with gross capacity of 170MW. That will bring their respective capacities to 510MW and 470MW after expansion.
Besides the expansion in Cebu and Davao, AboitizPower and partner TeaM Energy Corp. are also undertaking the 420-MW expansion of the Pagbilao coal plant in Quezon.