San Miguel to build 900 MW gas-fired power plants
San Miguel Corp. (SMC) is set to build two gas-fired power plants in Visayas for PHP60 billion (US$1.15 billion), including a 300 MW plant in Negros Occidental as the giant company shifts to green energy.
Prestige Power Resources Inc., an indirect subsidiary of the company, will construct a 600 MW combined-cycle gas plant in Leyte province for PHP41.5 billion (US$792.3 million).
Meanwhile, SMC’s Reliance Energy Development Inc. (REDI) is proposing a 300 MW plant in San Carlos, Negros Occidental valued at PHP18.5 billion (US$353.21 million). The proposed project is reported to be constructed inside a 49-hectare property leased from Grand Planters International Inc. REDI is targeting to start the construction of the project in the third quarter of 2023, with completion eyed in the third quarter of 2024.
Country updates
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March 18, 2022
HSBC lends debt financing for 160 MW wind project in Ilocos Norte
Philippine-based renewable energy developer AC Energy Corp. has secured a sustainable commercial letter of credit (LC) from HSBC Philippines to support the development of the 160 MW Bal...
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March 07, 2022
Basic Energy to invest US$31mn for 50 MW wind project in Batangas
Philippine-based Basic Energy Corporation (BEC) is investing up to US$31 million to develop the 50 MW wind farm project in the province of Batangas in the Philippines. The wind farm will b...
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March 02, 2022
AC Energy connects 120 MW Alaminos solar project to energy storage in Laguna
AC Energy, the renewable energy development arm of Ayala Corporation, has connected its operational 120 MW Alaminos solar photovoltaic project to the 40 MW/60 MWh Alaminos Energy Storage system in the...
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February 10, 2022
SPNEC signs 10-year PSA for its 500 MW solar project in Central Luzon
Solar Philippines Nueva Ecija Corporation (SPNEC) has signed a 10-year renewable power supply agreement (PSA) with distribution utility Angeles Electric Corporation (AEC) for its 500 MW solar pho...
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February 02, 2022
The Blue Circle partners with CleanTech Global Renewables for 1.2 GW wind project in Bulalacao
The Blue Circle and its partner CleanTech Global Renewables, Inc. have signed their first wind energy service contract for the 1.2 GW offshore wind project in Bulalacao, Oriental Mindoro, the Phi...
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