ABOITIZ Power Corp. (AP) has entered into a landmark partnership with San Miguel Global Power Holdings Corp. (SMGP) and Meralco PowerGen Corp. (MGen), to launch the country’s first and most expansive integrated liquefied natural gas (LNG) facility in Batangas.
The milestone development between three of the country’s top energy companies is expected to add over 2,500 megawatts (MW) of power generation that is cleaner than production using fossil fuels.
AP and MGen will jointly invest in two of SMGP’s gas-fired power plants -- the 1,278 MW Ilijan power plant and a new 1,320 MW combined cycle power facility which is expected to commence operations by the end of 2024.
Meanwhile, SMGP, together with AP and MGen, will invest in almost 100 percent of the LNG import and regasification terminal owned by Linseed Field Corp. This partnership increases the probability of success as it enables bold, fast action, which energy security requires. The entire project is valued at US$3.3 billion. / PR