CURRENTLY under construction with 68 percent completion, the new 150 megawatts second coal-fired power plant in Iloilo City is set for commissioning by August 2016.
This was announced by Global Business Power Corp Executive Vice President Jaime Azurin December 15.
Azurin also announced the lower power rate from P5.50 per kilowatt per hour (KWH) to P4.50 KWH as the lowest in the Visayas area.
A power purchase agreement (PPA) was recently notched between the power firm and the Panay-Guimaras power consortium covering all electric cooperatives in the islands of Panay and Guimaras.
The power firm is also set to sign an agreement with Panay Electric Company and expected to bring down the power rates in the city.
The second coal fired power plant is an expansion of the first 164 Megawatts currently operated by GBPC on top of the Panay Power Corporation diesel power plant. It is funded with investments from 11 commercial and development banks in the country.
Aside from the La Paz, Iloilo City power plants, GBPC owns coal-fired power plants in Mindoro, Nabas, Aklan, and Cebu. (LCP)