CEBU CITY, July 1 (PNA) — The SPC Power Corp. Tuesday announced its plan to build two Greenfield 100-megawatt (MW) power plants inside the Naga Power Plant Complex in the City of Naga in southern Cebu.
Cesar Villegas, SPC Senior Manager for Project Development and Overseer of the Malaya Thermal Power Plant, said the project will help sustain the growth of the economy of Cebu and the rest of the Visayas.
The coal-fired plants will be built using the latest in the most environment-friendly circulating fluidized bed combustion technology in partnership with the Korean Electric Power Corp. (KEPCO).
The SPC Power Corp. has partnered with the KEPCO in the construction and operation of the 200 MW power plant now in Naga City.
The KEPCO-SPC Power Corp. (KSPC) plant has proven to be a reliable power supplier to the Visayas grid since it began operation.
The new power plants should be operational three to four years once the SPC Power Corp. shall be given the approval to begin construction.
The corporation has recently exercised its right to top the bid of the winning bidder of the 150 MW Naga Power facility signifying support for the government’s privatization efforts.
The SPC has wired to the Development Bank of the Philippines (DBP) account of the Power Sector Asset and Liabilities Management Corporation (PSALM) the payment of Php1.143 billion, which is five percent higher than the Php1.088 bid of the winning bidder.
The construction of the new plants would be carried out also in partnership with Naga City, which has been the host of SPC Power Corp. since 1994.
Villegas said this is also in response to the call of the people of Naga City led by Mayor Valdemar Chiong for the construction of a new clean coal power plant in the city. (PNA)