SEMIRARA Mining and Power Corp., the listed power and mining subsidiary of DMCI Holdings Inc., sees P7.7 billion in additional yearly sales from the expanded capacity of Calaca power plants starting 2016.
“We estimate about P7.7 billion in gross revenues and P2 billion in net income from the Units 3 and 4, which will start next year. The plants are relatively new so there might be some faults. But by next year . . . its full commercial operations,” Isidro Consunji, DMCI Holdings president, told reporters on Tuesday.
“This is because of cheaper fuel and higher selling price,” he added.
The 150 megawatt (MW) Calaca Unit 3 was completed as of end-March, while the 150-MW Calaca Unit 4 started operations last June.
The Calaca facility has a boilerplate capacity of 600 MW – two generating units of 300 MW each. The facility is using the coal from Semirara’s Caluya, Antique site.
After Units 3 and 4, Semirara is set to construct two more facilities with each having a 350-MW capacity as part of the second stage of the Calaca expansion program that aims to bring the total capacity to 1,600 MW.
Semirara’s power segment still accounts for 83 percent of the company’s operations, with the coal mining business covering the balance.
The Semirara coal mine operations remain suspended after an accident last month killed nine workers.