Philippines' San Miguel Corporation seeks to fund 300MW coal-fired plant

It also plans to construct a 1,200MW combined cycle gas turbine power project in Batangas province.

The power unit of Philippine-based conglomerate holding firm San Miguel Corporation (SMC) is arranging for the financing of the construction of two 2x150MW circulating fluidised bed (CFB) coal-fired power plants, a filing with the Philippine Stock Exchange (PSE) confirmed.

SMC Global Power Holdings Corporation, a wholly-owned subsidiary of SMC, will construct the two power plants in Pagbilao, Quezon and Mariveles, Bataan, at an estimated cost of $2m per MW, or around $2.4b.

Each project will reportedly have four 150MW units. The power unit is securing the funding via a competitive selection process (CSP) directive of the Supreme Court (SC).

In a separate filing, SMC also confirmed that SMC Global Power Holdings Corporation also plans to construct and operate two new units with a 600MW capacity each of a combined cycle gas turbine power project in Batangas province. According to San Miguel’s president Ramon Ang, the new project will be a carbon copy of the existing Ilijan plant, also located in Batangas province.