by Lenie Lectura, February 9, 2015
THERMA Visayas Inc. (TVI) has sought the green light from the Energy Regulatory Commission (ERC) to put up a P2.68-billion interconnection facility to cater the direct delivery of the full 300-megawatt (MW) capacity of a coal-fired power plant to the grid.
“The application filed by TVI for authority to develop, own and operate dedicated point-to-point limited transmission facilities to connect the 2x150MW TVI coal-fired power plant project to the transmission system of the National Grid Corporation of the Philippines (NGCP), with prayer for provisional authority, is hereby approved,” the ERC said in its 10-page decision.
TVI will construct the facility to connect Therma Visayas Inc.’s (TVI) power plant to the NGCP’s transmission system. The project will include a switchyard, substation and interconnection lines. These are necessary so that the power coming from the 300-MW coal-fired power plant will be delivered to the grid. The NGCP, in turn, will dispatch the power to the distribution utilities and/or electric cooperatives. While the ERC granted TVI’s application it, however, ruled that the NGCP, being the country’s grid operator, will operate the dedicated point-to-point transmission facility, subject to applicable charges. The ERC also asked TVI to pay P29.07 million worth of permit fees. The point-to-point connection line project shall be funded through TVI’s equity and loan. The ERC finds TVI, a unit of Therma Power Inc. (TPI), as financially capable to undertake the project.
TPI is a wholly owned holding company which owns all of Aboitiz Power Corp.’s (APC) thermal power-generation assets. TPI owns 100-percent equity interest in TVI.
APC, meanwhile, is the publicly listed holding company of all Aboitiz assets and interests in the power generation, power distribution and energy solutions industries.