Philippines' Global starts constructing Toledo Power Plant

Now into construction phase.

The 82-megawatt Toledo coal-fired power plant is being prepared to meet the supply commitment to affiliate Carmen Copper by 2014.

Project developer Global Business Power Corporation said the first delivery of power to Carmen Copper will be December 26, 2014.

The proposed facility commands an investment of P10.2 billion, to be raised generally from loans and the rest from equity.

Global Power chairman Francisco Sebastian has noted that the copper mine “will need additional electric supply to power its mining expansion undertakings.”

The turnkey contract for the dedicated power project was awarded to Taiwanese firm Formosa Heavy Industries, the same company engaged by Global Power for its other power plant in Cebu.

Global Power is generally focusing its near-term portfolio expansion in the Visayas. After Toledo, the company is also working on another facility expansion of 150MW in Iloilo.

Company officials though are not discounting possibilities of eventual expansion in other grids, primarily in Mindanao which would still be in need of additional supply beyond the 2015 timeframe.

For more.

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