MANILA, Philippines - The power plant complex of Global Business Power Corp. (GBPC) in Toledo City, Cebu has been synchronized to the grid, a development which the Department of Energy (DOE) said would help boost the growth of industries in the region.
GBPC is the power generation company of banking tycoon George Ty’s GT Capital Holdings. Its unit, Toledo Power Co., expanded with an 82 megawatt power project in Cebu, which was originally scheduled to be connected to the grid in October.
“The new power capacity addition of GBPC will provide a signal to investors for future investment directions as more opportunities await for them because the government, in partnership with the private sector, is continuously paving the way towards a better investment environment,” said DOE Visayas field office director Antonio Labios Director Labios.
The additional capacity will directly benefit industrial power consumers in Cebu, specifically in the southern portion of the province and the rest of the Visayas, he said.
Energy Undersecretary Loreta Ayson emphasized the importance of energy in addressing the regional economy, which in turn supports the population, and area based development.
This developed as the DOE also launched the Mindoro Island Power Development Plan to focus on the potential energy sources and prospective plans for the improvement of energy facilities and services in the region.
The energy department has already awarded 189.3 MW worth of renewable energy (RE) projects to different foreign and local developers.
The plan underscored the potential RE sources in the island such as 47.1 MW worth of hydro and ocean energy and 151.2 MW worth of biomass energy resource.
The proposed Batangas-Mindoro (BatMin) transmission interconnection line, which is targeted to be completed by 2023, is also included in the development plan, the DOE said.
Once in place, the transmission interconnection line would enable the Luzon grid, therefore making the region independent from missionary electrification subsidies.