MANILA, Philippines - Korea Electric Power Corp. (Kepco) is gearing up for new projects in the Philippines, a ranking official said.
Hyang-reol Lyu, president and CEO of Kepco Philippines, said the company, together with its partner SPC Power Corp., is working on a 300-megawatt coal fired power plant in Naga, Cebu. “(We are) now in feasibility study,” he said.
According to Hyang-reol, the company expects to conclude the feasibility study in September and proceed to the bidding of the contract for the construction of the plant. “After the study, we will proceed to the bidding,” he said.
Similarly, the company is working on a coal plant in Subic, also with a local partner. “To get competitiveness, we’re thinking of coal,” the Kepco executive said.
It was in 2013 when Kepco Philippines said it was scouting for a possible location of a plant in Luzon.
Officials earlier said the company was keen on a 200-MW power plant in Subic, Zambales with Hanjin.
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, officials have said.
To date, Kepco Philippines owns the 1,200-MW Ilijan natural gas power plant after earlier bagging the build-operate-transfer contract.