Steag welcomes setting up of LNG power plant in Misamis Oriental

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Thursday, June 30, 2011


AN OFFICIAL of Steag State Power Inc. (SPI), a company that operates a coal power plant in Villanueva, Misamis Oriental, welcomes the reported setting up of another power plant in the area by Filinvest Development Corporation.

Jerome Soldevilla, corporate communications officer of SPI, said their company appreciates all efforts to address the energy shortage in Mindanao, citing that having Filinvest around will not threaten their operation.

He said the growing interest of investors to put up more facilities is an affirmation of their business confidence in Mindanao.

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Based on reports, the energy unit of Filinvest plans to put up a 200-megawatt (MW) liquefied natural gas (LNG) power plant at the Phividec Industrial Estate in Villanueva, Misamis Oriental.

The $200-million power plant of Filinvest will be part of the $1.8 billion, 1,650-MW energy portfolio that will be undertaken by Strong Field Gas and Electric Corporation.

Soldevilla said they have no plans to oppose the construction of the new power plant since the people in Mindanao are in dire need of power sources.

He said Steag is also mulling for expansion and is already in the process of negotiation between the shareholders, the National Power Corporation and the Power Sector Assets and Liabilities Management Corporation (Psalm).

He, however, emphasized that Steag's planned expansion will not be affected by the coming in of Filinvest.

"With regard to pricing competition, we are not troubled since the Energy Regulatory Commission already regulated the price," he said.

Jimmy E. Agcaoili, personnel officer designate of the local government unit of Villanueva, said they are open to the establishment of another plant as long as they comply with the requirements and will not negatively affect the health of their constituents.

Published in the Sun.Star Cagayan de Oro newspaper on July 01, 2011.

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