A unit of power distributor Manila Electric Co. (Meralco) targets to finish the expansion of its existing 460-megawatt (MW) San Buenaventura coal plant in Mauban, Quezon by 2018.
The 460-MW plant is jointly owned by Meralco Power Gen, the power generation arm of Meralco and the New Growth B.V., a subsidiary of Thailand’s Electricity Generating Public Co. (EGCO).
Meralco President Oscar Reyes said the San Buenaventura plant would help ensure the country’s long-term power supply.
“We are hoping that we can move in an accelerated pace because it’s needed. We are trying to have it in place, hopefully in time for summer of 2018,” said Reyes.
He said the company needs to complete the project before the summer of 2018 so that they will have some degree of relief from the risk of red alert as demand continues to increase.
“You are better off with comfortable level of supply,” he added.
Meralco PowerGen senior vice president Angelo Lantin earlier said the company is raising P40 billion to finance the expansion of the Mauban coal plant.