2nd Masinloc plant planned
By Roy Pelovello - Manila Standard Today
THE Singapore firm that won in the bidding for the 600-megawatt, coal-fired Masinloc power plant in Zambales is set to build another power plant with the same capacity to augment the country’s power capacity, a company official said yesterday.
Paul Hanrahan, president and chief executive of AES Transpower Pte. Ltd., said in a statement that they were pleased with the way the bidding process turned out and that they were committed to completing the sale as soon as possible.
“We’re also committed to begin the process of building a second unit in Masinloc, which will be another 600-megawatt unit, as part of our fundamental business strategy to expand,” Hanrahan said, adding that the construction of the second power plant would likely begin next year after the rehabilitation of the original Masinloc power plant.
“In the first year, there will be certain amounts of investment to improve the reliability and the performance of the first plant and then we would move on to the second unit,” he said.
AES, through its subsidiary Masinloc Power Partners Co. Ltd., won the auction for the Masinloc power plant with its bid of $930 million.
The company outbidded Anglo Cayman Energy Development Co. Ltd., a wholly-owned subsidiary of the world’s top coal producer Beijing Guohua Electric Power Corp; and Masinloc Consolidated Power Inc., a partnership between Ranhill Berhad A. Brown Co. Inc. and First Luzon Power Corp. of the Lopez group.
Hanrahan said President Gloria Macapagal Arroyo was pleased with the development and encouraged AES to invest more in the power sector.
“She was very positive. She was pleased to see one of the processes [in the privatization of the country’s power plants] going well,” Hanrahan said.
The President has been pushing for the privatization of the government’s power generating assets to meet one of the requirements of the Electric Power Industry Reform Act of 2001, which requires a 70-percent privatization before an open access regime can take effect in the power sector.
THE Singapore firm that won in the bidding for the 600-megawatt, coal-fired Masinloc power plant in Zambales is set to build another power plant with the same capacity to augment the country’s power capacity, a company official said yesterday.
Paul Hanrahan, president and chief executive of AES Transpower Pte. Ltd., said in a statement that they were pleased with the way the bidding process turned out and that they were committed to completing the sale as soon as possible.
“We’re also committed to begin the process of building a second unit in Masinloc, which will be another 600-megawatt unit, as part of our fundamental business strategy to expand,” Hanrahan said, adding that the construction of the second power plant would likely begin next year after the rehabilitation of the original Masinloc power plant.
“In the first year, there will be certain amounts of investment to improve the reliability and the performance of the first plant and then we would move on to the second unit,” he said.
AES, through its subsidiary Masinloc Power Partners Co. Ltd., won the auction for the Masinloc power plant with its bid of $930 million.
The company outbidded Anglo Cayman Energy Development Co. Ltd., a wholly-owned subsidiary of the world’s top coal producer Beijing Guohua Electric Power Corp; and Masinloc Consolidated Power Inc., a partnership between Ranhill Berhad A. Brown Co. Inc. and First Luzon Power Corp. of the Lopez group.
Hanrahan said President Gloria Macapagal Arroyo was pleased with the development and encouraged AES to invest more in the power sector.
“She was very positive. She was pleased to see one of the processes [in the privatization of the country’s power plants] going well,” Hanrahan said.
The President has been pushing for the privatization of the government’s power generating assets to meet one of the requirements of the Electric Power Industry Reform Act of 2001, which requires a 70-percent privatization before an open access regime can take effect in the power sector.
Labels: masinloc, power plant, zambales
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