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.