31 May 2012

Meralco says Subic plant running by ’15

The Manila Electric Co. (Meralco), the country’s largest power distributor, said it is on track to finish its 600-megawatt coal-fired power plant in the Subic Bay freeport zone by 2015 despite various challenges.

“The Subic project is moving, we recently filed for our Board of Investment (BOI) registration with the proper endorsement from the Department of Energy,” said Oscar Reyes, president and chief executive officer of Meralco.

Reyes said the biggest challenge, the transmission line, has been tabled for discussion with the National Grid of the Philippines (NGCP).

He added that certain matters raised by the Subic Bay Metropolitan Authority (SBMA) with the firm are being addressed as well.

“We are in constant communication with NGCP, SBMA, with the other stakeholders in the area, and the DOE,” Reyes said.

“We committed to bring this capacity on stream by 2015, and I think that remains to be our target because the Luzon grid clearly needs it,” he added.

The project is being undertaken by Redondo Peninsula Energy Inc. (RP Energy), a joint-venture company among Meralco, Aboitiz Power Corp., and Taiwan Cogeneration International Corp. (TCIC).(Richmond S. Mercurio, Malaya)