MANILA, Philippines - TeaM Energy Philippines is eyeing a 600-megawatt (MW) coal or liquefied natural gas (LNG) power plant in Luzon.
The company is a joint venture between Japanese firms Tokyo Electric Power Co. (Tepco) and Marubeni Corp.
TeaM Energy president Federico Puno said Tepco, which owns a 50-percent stake in the company, remains bullish on its investments in the Philippines.
“The Fukushima incident does not affect our plan to put up greenfield projects as well as expand the Pagbilao and Sual (plants),” Puno said.
Tepco is one of the five largest electric power companies in the world. The company is currently facing a nuclear disaster following the devasting earthquake and tsunami in Japan last March.
TeaM Energy also plans to put up more than 50-MW of renewable energy projects.
Puno said they are looking at developing mini-hydro, biomass and solar projects in Luzon and are presently conducting feasibility studies on the viability of the renewable energy technologies.
TeaM Energy also operates the 735-MW Pagbilao coal plant and the 1,200-MW Sual coal plant.
Puno said they are looking at constructing a coal plant or liquefied natural gas plant.
“We’re looking at maybe additional greenfield project of either coal or LNG, in addition to the expansion of Pagbilao and Sual,” he said.
He said that they could start construction of a 300-MW facility and then proceed with the next 300-MW in anticipation of a possible power gap.
“Our problem is after the cooperation period of Sual and Pagbilao is finished, we don’t have power capacity,” he said.
TeaM Energy will have to turn over the assets to Aboitiz Power (Sual) and San Miguel (Pagbilao) by 2025 under an earlier agreement.