Metrobank power unit mulls more Visayas plants

MANILA, Philippines - Global Business Power Corp. (GBPC), the power generation unit of the Metrobank Group, is looking at the possibility of putting up more power plants in the Visayas region.

GBCP president Jesus Alcordo said they are eyeing to pour in more investments in the Visayas after the company completes its projects for the year.

“The Visayas will continue to have a growing need for power, and we are committed to provide the region with the generating capacity to support its economy,” he said.

According to Alcordo, they are delivering 410 megawatts of new, additional capacity for the CNP (Cebu-Negros-Panay) grid that would significantly stabilize grid voltage in 2010.  “This will serve the economic growth in these islands, particularly in Cebu and in Panay,” he said.

GBCP, through Cebu Energy Development Corp. (CEDC), a consortium with Aboitiz Power Corp., Vivant Energy Corp., and Formosa Heavy Industries Corp., is putting-up a 246-MW clean coal power plant in Toledo City, Cebu.

The first of three 82-MW coal-fired power units was switched-on and synchronized to the CNP grid early this month. The other two units will be online in June and December this year.

Through subsidiary Panay Energy Development Corp. (PEDC), GBCP is also on track with its 164-MW power plant in Iloilo City. PEDC’s two 82-MW power units will both be operational within the year as well.

“These new power plants will help improve the economy and create more jobs. Now, we are studying adding more capacity to the grid to further help the region move forward with more reliable, stable and reasonably-priced power,” Alcordo added.

GBCP also owns Toledo Power Co. (TPC), an independent power producer with power plants in Sangi and Carmen in Toledo City, Cebu.  Its plant facilities consist of two coal-fired generators with an aggregate installed capacity of 66.25 mw and four units of diesel generator sets with a total installed capacity of 45.8 MW.

In Panay, GBCP also has existing diesel power plants with a combined capacity of 109.5 MW, with a new 164-mw coal-fired power plant under construction in La Paz, Iloilo City through PEDC.  

On top of these, Alcordo said they are also mulling the addition of another 82 MW for the province.

As of end-February 2010, the Visayas grid has an average peak demand of 1,200 MW, higher than the 1,039-MW total capacity of the power plants in the region. ”If all of these projects come online, we would wipe out the power deficiency in the region,” said Alcordo.

The GBCP chief executive said their group is now reviewing the various aspects of these envisioned expansions, including market demand, timing and project financing.