SEMIRARA Mining and Power Corp. and Meralco Powergen Corp. (MGen) said on
Thursday they have executed and entered into a joint venture agreement (JVA) for the purpose of owning, constructing and operating a 700-megawatt coal-fired power plant to be located in Calaca, Batangas.
The project company for the said power plant will be St. Raphael Power Generation Corporation, according to separate disclosures by both parties to the Philippine Stock Exchange (PSE).
The plant will consist of two units capable of generating 350 MW each.
An Environmental Compliance Certificate ECC-CO-1530-0012 dated September 17, 2015 has been issued by the Department of Environment and Natural Resources (DENR) for the said project.
Semirara is controlled by DMCI Holdings while MGen is a wholly owned subsidiary of the country’s largest power distribution utility, Manila Electric Co.