EGCO Commences Operation of 500 MW PP in the Philippines, Booking Revenue in 4Q!

The Electricity Generating Public Company Limited (EGCO) has announced that SBPL managed by San Buenaventura Power Limited Company, in which EGCO and Meralco PowerGen Corporation hold 49% and 51% of stakes, respectively, commenced its commercial operation to supply electricity to the Philippines national grid on September 26, 2019.

SBPL, located adjacent to the Quezon existing plant (QPL) in Mauban, Quezon Province of the Philippines, is a coal-fired power plant, utilizing highly efficient supercritical boiler technology. The power plant has an installed capacity of 500 MW and sells 455 MW of electricity output to Manila Electric Company (Meralco).

Its Power Supply Agreement, approved by the Philippines Energy Regulatory Commission (ERC), was signed under the Independent Power Purchase scheme (IPP) for 20-year term with one 5-year term extension

The SBPL will contribute additional stable revenue sources to EGCO starting from the fourth quarter of 2019 onwards and help promotion of efficient energy utilization via highly efficient supercritical boiler technology as well as supporting the reliability of the grid on Luzon Island, the Philippines.