FDC Misamis Power Corp. (FDC Misamis), a subsidiary of FDC Utilities Inc., is set to begin with the construction of a 405-megawatt (MW) power plant in Mindanao very soon, with the groundbreaking scheduled next month.
Meanwhile, listed Nickel Asia Corp. (NAC) is tying up with a Mindanao-based cooperative to build a P1-billion power plant in the region. The 405-MW power plant, which will be constructed within the Phividec Industrial Estate in Misamis Oriental, will be connected to the Mindanao Grid and is expected to deliver much-needed power to the region by early 2016.
FDC Utilities, the utilities arm of the Filinvest Group, announced through a filing with the Philippine Stock Exchange (PSE) that it has awarded the contracts for the 405-MW power plant in Mindanao.
Specifically, FDC Misamis awarded the equipment supply contract to First Northeast Electric Power Engineering Corp. of China Energy Engineering Group (NEPC China).
NEPC China will utilize the latest in clean fuel technology adopting the circulating fluidized bed boiler technology, which is consistent with Filinvest’s commitment for enhanced environmental management.
FDC Misamis also awarded the construction contract for the power plant to NEPC Power Construction Corp. (NEPC Philippines), which is in partnership with Engineering Equipment Inc. that will be undertaking the civil, electrical and mechanical works.
Alstom, a global leader in the world of power generation, shall supply the steam turbine and generator directly from their manufacturing facilities in Europe, while the circulating fluidized bed boilers and auxiliaries shall be provided by Shanghai Electric Group Co. Ltd., a leading boiler manufacturer in China.
NEPC China is a member of the China Energy Engineering Group Co. Ltd., one of the biggest conglomerates in China dealing with power generation and related infrastructure.
P1-billion power plant
In a filing with the PSE, NAC disclosed that it has forged a deal with Surigao del Norte Electric Cooperative Inc. (Surneco) involving the establishment of a power plant in Mindanao.
After signing the power sales agreement (PSA), the two companies are now set to jointly file with the Energy Regulatory Commission for the approval of the PSA.
Under the terms of the PSA, NAC has agreed to construct, operate and maintain a bunker-fired power station under the build-operate-transfer scheme, and to supply electricity to Surneco.
The agreement, which was signed on Thursday, involves the establishment of a 10-megawatt power plant in Surigao Del Norte with an estimated project cost of P1 billion. Surneco is an electric distribution utility with its franchise area at the northeastern tip of Mindanao.