Global Power switches on P10.2-B Toledo power plant

MANILA, Philippines - Global Business Power Corp., the power generation unit of Ty-led conglomerate GT Capital Holdings, switched on yesterday the 82-megawatt coal-fired power plant of its subsidiary Toledo Power Corp. (TPC) in Toledo City, Cebu.

Global Power chairman Francisco Sebastian said the project is a reaffirmation of the company’s commitment to support the growth and development   of the Visayas region and a response to government’s call for more power supply to avert a looming energy crisis next year.

“Immediate completion of the expansion project is a validation of effective private-public partnerships, working for a common goal of building a progressive nation,” he said.

The project, which broke ground in 2012, is a P10.2-billion investment that will also supply the power requirements of Carmen Copper Corp.’s mining projects starting December 2014.

Carmen Copper is a subsidiary of Atlas Consolidated Mining and  Development Corp.

“Five decades after the establishment of TPC, it will once again supply the power requirement of the Atlas mines through Carmen Copper Corp. TPC was initially built to power the Atlas mines in the 1960s until its closure in 1990s,” the company said.

The plant is also eyeing to provide the power requirements  of major industries in Western Cebu like those in the Balamban Enerzone.

The 82-MW expansion project is an addition to TPC’s existing 60-MW coal-fired and 40-MW diesel-fired plants.

“Global Power had originally intended the new 82-MW plant to replace its  existing coal facility with the latest clean coal technology,” said Global Power executive vice president Jaime Azurin.

Furthermore, he said TPC is refurbishing its existing coal-fired plant to increase its capacity to 62 MW to serve as additionalbridging power source for the projected energy requirements for next year’s summer season and the Asia Pacific Economic Cooperation (APEC) meeting.

Global Power is one of the leading independent power producers in the Visayas. Its power plants are strategically located where high growth is expected, with power facilities located in Cebu, Iloilo, Aklan and Mindoro.

The company is a power conglomerate composed of Cebu Energy Development Corp.,  Panay Power Corp., Panay Energy Development Corp., GBH Power Resources and TPC.

It is a major unit of holding firm GT Capital, along with Metropolitan Bank & Trust Co. (Metrobank), Toyota Motor Philippines, Federal Land Inc., First Metro Investment Co., AXA Philippine Life Insurance Corp. and Charter Ping An Insurance Corp.