San Miguel Corp. building power plant in GenSan
With the worsening power crisis in this part of Southern Mindanao, comes this peace of news….
In separate news reports today, March 09, 2010, from the online editions of the Philippine Daily Inquirer, Manila Standard and other national media outlets, it was gathered that food and beverage behemoth San Miguel Corporation is building a 150-megawatt to 300-MW power plant in General Santos City!
This came about with the acquisition of San Miguel Corporation, of Daguma Agro Minerals Inc., a coal plant based in South Cotabato, of the Guingonas, which has the rights over one of the Philippines’ richest coal deposits. This one is located at Barangay Ned, Lake Sebu.
According to San Miguel president Ramon Ang, “a switch-on ceremony is being planned for the construction of a mine-mouth power plant”, which will cost from $150 million to $300 million, at a cost of $1 million per megawatt.
He added that initially the coal-fired power plant would generate 150 MW to 300 MW of electricity but could be increased depending on coal production. His people are now in the process of securing the permits and other requirements needed for both the coal mine and coal plant.
If plans don’t miscarry, construction of the coal plant in General Santos City will start within the year and will be completed by 2012.
The report further revealed that “Another coal mining company, Sultan Energy Philippines Corp., has started test production of its Daguma coal field. Sultan Energy holds a separate coal operating contract in the Daguma coal field covering 7,000 hectares“.
Hydroelectric power plants provide the bulk of Mindanao’s power requirements but they have limited capabilities now due to low water inflow to reservoirs.
The Agus power plant of National Power Corp. have an available capacity of 65 MW out of the total rated output of 727 MW. The Pulangi plant, also owned by Napocor, provides 20 MW out of the total rated capacity of 255 MW.
San Miguel has been intensifying its investments in the power sector. It now owns the 620-MW Limay bunker-fired power plant and trading the 1,000-MW contract of the Sual coal-fired power plant.
San Miguel is also vying for the 246-MW Angat power plant up for bidding next month. – MANILA STANDARD TODAY