GLOBAL Business Power Corp. (GBPC), one of the country’s largest power producers, plans to double its capacity to 2,000 megawatts over the next five years from the current 854 MW, according to its newly appointed president Jaime T. Azurin.
The company recently announced the appointment of Azurin as its new president effective May 1. He succeeds former president Rolando T. Bacani.
GBPC foresees having renewable energy as part of its portfolio. The company is exploring various renewable projects, and hopes to expand from its roots in the Visayas to have a major presence in Luzon and Mindanao.
“GBPC is looking at several projects to expand and complement its energy portfolio,” Azurin said.
GBPC’s renewable energy arm, Global Renewable Power Corporation, is also exploring several renewable energy projects, bagasse and hydro, as part of it commitment to offer flexible energy solutions to its customers.
In Luzon, GBPC’s main development project is a 670-MW supercritical coal-fired plant in Luna, La Union. Local government endorsements and Land Conversion Certificates have been received. Transmission route surveys and EPC [engineering, procurement and construction] contractor selection are continuing.
This project is supported by a 600 MW Power Supply Agreement with Manila Electric Co. (Meralco), and is awaiting Energy Regulatory Commission approval.
Azurin has been with the company since it began operations in 2003. Prior to his promotion, he was the chief finance officer and executive vice president for business development and commercial operations of GBPC.
As CFO, he was able to secure four multibillion-peso loan facilities across more than 10 financing institutions that funded the group’s base load plants in the Visayas.
As head of business development and commercial operations, he led in formulating business plans and strategies to expand the operation.
In the middle of 2016, GBPC was acquired by Metro Pacific Investments Corp. (MPIC), which holds an effective stake of 47.8 percent, through affiliate Beacon PowerGen Holdings Inc. and Gokongwei-owned JG Summit Holdings, Inc.