Global Business Power Corp., through unit Panay Energy Development Corp., aims to finalize a plan to build a 150-megawatt coal-fired power plant in Panay within the first quarter of the year.
“We should be finished within the first quarter. By March, we should have a good idea where to go on this. We have been going on a roadshow with our cooperatives who are respective clients for 2016 onward,” Global Business president Art Aguilar told reporters.
Panay Energy in October signed an agreement with Formosa Heavy Industries to study and finalize the reconfiguration of two 82-MW coal-fired plants into a single larger power facility.
The first 82-MW coal plant in Panay was scheduled for completion in late 2014. Global Business, however, noted an increased economic activity in the island that might required the construction of a single larger plant with a capacity of 150 MW.
Aguilar said Global Business was still “firming up” plans for the 150-MW capacity plant, including the construction cost. He said the bigger plant might cost around $2 million to $2.5 million per MW to build.
Global Business earlier said a single larger plant could reduce Panay Energy’s generation charges to existing customers on a per kilowatt-hour basis.
It said the cost benefits of a larger plant was in addition to the substantial savings arising from the common facilities, like a jetty coal yard and water treatment, provided by a similar station completed in 2011.
“Since Global Power acquired the 72-MW diesel plant from the Lopez Group in 2003, we have been steady with our
commitment to provide adequate, reliable and cost efficient power supply to Panay,” Francisco Sebastian, Global Power chairman, said earlier.
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