THE PANAY Energy Development Corporation (PEDC) inaugurated on Wednesday the third unit of the 150×1 MW (megawatt) coal plant expansion project in Barangay Ingore, La Paz District in Iloilo City.
The power plant is the largest single generation unit in the Visayas today and is expected to provide adequate, reliable, clean, and cost-efficient power to the residents and businesses in the region.
PEDC is a subsidiary of Global Business Power Corp. (GBPC), one of the largest power producers in the Visayas. The P15.6-billion expansion project is the GBP Group’s latest investment in the province. It has invested a total of P20 billion for PEDC’s first two 82 MW clean-coal plants in 2011.
“The event underscores our commitment to support the economic growth of the region,” GBPC chairman Jose Maria K. Lim said. “By providing adequate power supply, we are fueling the growth of industries and the availability of jobs in Panay, thereby providing a viable alternative to the already congested Metro Manila area.”
“We are hopeful that in supporting accelerated growth in Panay, particularly in Iloilo, we are contributing to the government’s quest for sustainable and inclusive growth in all areas of the country,” Lim added.
During the ceremony, GBP and PEDC officials were joined by Energy Secretary Alfonso G. Cusi, Iloilo City Mayor Jed Patrick E. Mabilog and Iloilo Governor Arthur D. Defensor Sr.
The region’s economy has been on an upswing in recent years. Western Visayas was the second fastest growing economy in the country last year. According to the Philippine Statistics Authority (PSA), its gross regional domestic product (GRDP) grew by 8.3 percent in 2015, 5.2 percent in 2014 and by 3.4 percent in 2013.
“We are proud to be able to respond to the region’s growing energy requirements and contribute significantly to its baseload capacity,” GBPC president Rolando T. Bacani said.
He added that because of its size, PEDC will be able to offer a good rate in the power generation market because with expansion of third unit of the 150 MW coal plant, operating cost of the project will lessen. “We can expect efficient use of fuel from a single larger plant of 150 MW that is equipped with the latest Circulating Fluidized Bed (CFB) boiler technology,” he said.
“We were also able to reduce the project’s development cost since there are existing facilities which can be shared with the expanded plant. Among these are the jetty and water treatment facilities for the existing units already completed in 2011 which can service the new plant. In the end, these all serve the best interest of the consumers,” Bacani added.
He also reported that the third unit of PEDC has already been contracted. It will provide power to Iloilo Electric Cooperatives I, II, and III, as well as the Antique Electric Cooperative. It will also provide electricity to the Guimaras Electric Cooperative of the Panay-Guimaras Power Supply Consortium.
In February 2017, PEDC will also produce and supply power to Manila Electric Company (Meralco).
Global Business Power is owned by Beacon Electric Asset Holdings Inc. and Meralco Power Gen (MGen) of Metro Pacific Investments Corp. (MPIC) and JG Summit Holdings Inc.