THE Department of Energy said US-based AES Corp. will push through with its planned expansion of its 660-megawatt coal-fired power plant in Masinloc, Zambales.
Energy Secretary Jose Rene Almendras, however, said although AES has sent word it is pushing through with the expansion, he is not certain if the project will start this year.
AES earlier said it will invest around $800 million to expand the Masinloc facility. President and chief executive Paul Hanrahan even met with President Aquino and Almendras to discuss company plans to double the size of the said power plant.
The Philippine economy continues to show significant levels of growth and requires new low-cost electric generation capacity. “Our Masinloc facility was built in a way that included much of the critical infrastructure for the expansion unit, allowing us to provide one of the lowest cost alternatives for capacity expansion,” Hanrahan said.
In April 2008, AES took over the operations of the power plant from the Power Sector Assets and Liabilities Management Corp. after paying $930 million.
AES then increased the plant capacity to 600 MW from the original 450 MW. It also improved the plant’s environmental performance, lowering emissions levels so that they are in compliance with World Bank standards.
AES said the Masinloc expansion project will leverage the existing infrastructure, transmission interconnection and the company’s operating experience in the Philippines.
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By: Paul Anthony A. Isla
Source: Business Mirror, Aug. 30, 2011
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