Palm Concepcion to complete Iloilo coal plant by 2016

MANILA, Philippines - Palm Concepcion Power Corp. (PCPC), a company headed by businessman Walter Brown, has reaffirmed its commitment to complete its coal-fired power plant project and connect it to the grid as scheduled on or before the middle of 2016.

In a time capsule placement ceremony in Iloilo yesterday, PCPC officials said the company is on track to completing the project in 2016, a move welcomed by Energy Secretary Carlos Jericho Petilla given the need for additional power plants in the country.

“This will just be in time to meet the additional power supply requirements of the Visayas region,” Petilla said during yesterday’s ceremony.

The event brought together key leaders and officials in the government and the power industry headed by Petilla, Senate President Franklin Drilon, Rep. Niel Tupas Jr. of the 5th district of Iloilo and the Concepcion mayor Milliard Villanueva, among other government officials.

In his speech, Drilon also welcomed the project. “We are truly grateful for this P13.5-billion project as it aims to ensure a stable power supply for the major property development projects and the increasing power demand in Iloilo and Visayas,” he said.

The power plant involves two 135-megawatt coal-fired facilities aimed at addressing the anticipating tight power supply situation in the Visayas grid by 2016.

PCPC is a joint venture between Palm Thermal Consolidated Holdings Corp., a wholly owned subsidiary of A. Brown Company Inc. and Jin Navitas Resource Inc. of the Rebisco Group.

A. Brown is a publicly listed company primarily engaged in real estate and agribusiness that has recently ventured into the utilities sector, particularly in power and renewable energy.

Its other subsidiary includes Peakpower, which has has also started the construction of two bunker-fired power plants, the 20-MW Peakpower Socsargen in Gen. Santos City and the five-MW Peakpower San Francisco in Agusan del Sur.