BACOLOD CITY, April 5 (PNA) — A local business leader has welcomed the proposed construction of the PhP15.5-billion coal-fired power plant in Cadiz City, Negros Occidental.
Frank Carbon, president of the Metro Bacolod Chamber of Commerce and Industry (MBCCI), said power investors should be welcomed as long as they comply with the regulatory requirements.
“We need more base load power plants in Negros Island to augment the geothermal power plants in Negros Oriental and to supply the island’s base load and intermediate load power requirements 24/7,” Carbon said.
He added: “We need more diesel and blended fuel power plants for the island’s peak and reserve power requirements. We have to have embedded power plants for base load and peak load power requirements of Negros so that we will have reliable, quality and affordable power.”
The PhP15.5-billion, 150-megawatt coal-fired power plant will be constructed in the northern Negros town in the last quarter of the year.
On March 30, consortium Asia Pacific Energy Resources Ventures Inc.(APERVI)-Sparkling Capital signed three contracts with Energy Earth Public Company Ltd. for the realization of the power generation project.
These include a memorandum of understanding for the establishment of the joint venture for the plant construction, a long-term coal supply agreement, and a joint venture for mine operation in Indonesia.
Ceasar Ibañez Lao-as, president and chief executive officer of APERVI, said the construction phase of the project is expected to generate about 2,000 jobs.
APERVI is a Bacolod-based mining construction and energy producer company, while Sparkling Capital is a French power and investment firm.
The consortium, through its subsidiary North Negros Energy Power Corp. (NNEPC), is developing the 150-MW coal-fired power plant in Barangay Banquerohan, Cadiz City.
Energy Earth Public Co. Ltd. is a Thailand-based multinational company with dual listing in Thailand Stock Exchange and Frankfurt Stock Exchange.
APERVI-Sparkling Capital will represent Energy Earth in all coal supply transactions within the Philippines. (PNA)