Kepco plans new power plant

MANILA, Philippines - Korea Electric Power Corp. (Kepco) is planning to build a new power plant in the Philippines, the head of its local unit said. 

In an interview, Kyu-Byeng Hwang, president and chief executive officer (CEO) of Kepco Philippines Corp., said that the company would be scouting for a viable location in the Luzon area and then conduct a feasibility study. 

“In Luzon, there is future demand,” said Hwang. 

However, he declined to provide details, yet as to the capacity of the plant, saying that Kepco Philippines has yet to conduct a feasibility study on the potential capacity and target off-takers of the plant. 

Hwang also declined to elaborate on whether the new plant the company is eyeing would be natural gas or coal.  

Kepco director general for overseas project development Hong-bin Yim said the Seoul, South Korea-based company wants to have more projects in the Philippines. 

“We want to have closer cooperation in the Philippines with more projects,” he said. 

In December, Kepco Philippines’ Hwang said the company was keen on a 200-megawatt (MW) power plant in Subic, Zambales with Hanjin and at the same time looking at the Visayas, too. 

Hwang said the company is expected to finalize the location this year and immediately start its feasibility study. 

If it pushes through, the $200-million to $400-million project, which will be built to cater to the electricity requirements of Hanjin Heavy Industries and Construction Co. Ltd. Philippines Inc. in the Subic Bay Economic Zone. 

To date, Kepco Philippines owns the 1,200-MW Ilijan natural gas power plant after earlier bagging the build-operate-transfer contract.