THE 340-megawatt (MW) Therma Visayas baseload power plant in Toledo City is expected to go online by the first quarter of 2018.
Aboitiz Power president and chief operating officer Antonio Moraza said the completion of the Therma Visayas plant forms part of the 500 MW that the company will inject into the grid this year.
He said construction of the four plants including Therma Visayas are on track and should be mostly online in the first half of 2018.
“The entry of these plants will significantly support the country’s energy reserves and will show that the Philippines is open for business and investments,” said Moraza, in a statement.
“We have one of the most diversified portfolios in the country and we continue to be on the lookout for opportunities to push our balanced mix strategy,” he added.
The additional capacity will come from several hydro and baseload plants in Luzon, Visayas, and Mindanao.
The firm, with its partner SN Power, recently completed construction of the 8.5 MW Maris Canal hydro project in Isabela, while wholly-owned subsidiary Hedcor is wrapping up construction of a 68.8 MW hydro plant in Manolo Fortich, Bukidnon.
Aside from Therma Visayas, the firm is also completing a 400 MW Pagbilao 3 baseload power plant in Quezon.
Jaime Jose Aboitiz, chief operating officer of AboitizPower Distribution, earlier said the company is continuing its efforts to reach the goal of 4,000 MW of capacity by 2020.
He said Therma Visayas, which will add reliable baseload power, will help ensure energy security of Cebu and the Visayas.
Meanwhile, Moraza said AboitizPower expects to be able to make a final decision within the year on its Aseagas biomass power plant facility in Batangas that is currently under extended shutdown.
“We are currently continuing our technical evaluation, and a write-off is a possibility,” Moraza said.
Moreover, the Philippines for the third straight year landed number one in the World Energy Council’s World Energy Trilemma Index (Weti) 2017 on environmental sustainability besting 125 countries.
Weti ranked countries according to the three criteria: energy security, energy equity and environment sustainability called “trilemma.”
“Environmental sustainability, energy security and energy equity form part of the country’s energy development program,” said said Energy Secretary Alfonso Cusi in a statement. (KOC)
Published in the SunStar Cebu newspaper on January 12, 2018.
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