Saturday August 18, 2018

AboitizPower to study condition of plant

ABOITIZPOWER will conduct a thorough study on the condition of the Naga Power Plant Complex.

Whether they will build new ones or rehabilitate the plants, Jaime Jose Aboitiz, AboitizPower executive vice president and chief operating officer for distribution business group, told reporters yesterday it needs to be studied.

He said they need to determine the level of deterioration of the plants.

“We don’t know what to do about these assets yet. We don’t know what it will be used for, but definitely, we will do something about it. If we will build a new one, or rehabilitate them, we don’t know yet,” said Aboitiz.

The Naga Power Plant Complex is composed of diesel and coal power plants with a combined capacity of 153.1 megawatts (MW).

AboitizPower’s subsidiary Therma Power Visayas Inc. (TPVI) received the certificate of effectivity (COE) from PSALM to initiate the former’s purchase of the Naga Power Plant Complex in the City of Naga, Cebu.

The COE implements the Sept. 28, 2015 decision of the Supreme Court, which upheld the April 30, 2014 award of the facility to TPVI.

PSALM issued a notice of award to TPVI in 2014 after TPVI posted the highest bid of P1.088 billion for the asset after two failed biddings.

The Supreme Court in a Sept. 28, 2015 decision upheld the validity of PSALM’s public bidding. The High Court reiterated its decision in an Oct. 5, 2016 resolution.

“Our power plants are economic drivers in our host localities and our distribution utilities are hand-in-hand with the economic progress of the communities they serve —our customers whose businesses we support employ thousands of Filipinos,” said Aboitiz, in a statement.

AboitizPower will also commission its 340-MW TVI baseload plant in Toledo City this year, synchronizing its first unit with the grid. (KOC)