Conglomerate San Miguel Corp. is planning to construct five new power plants, three of which will be located in Mindanao and two in Central Luzon for a total cost of $4.2 billion, the company announced.
The 600 MW in Mariveles, Bataan; 600 MW in Pagbilao, Quezon; and three 300 MW power plants in Mindanao to plan three industrial estates of San Miguel.
San Miguel Corp. President and CEO Ramon Ang told reporters on Tuesday that the Central Luzon power plant projects would be finished by 2018-2019. These are a 600 MW plant in Mariveles, Bataan, and another 60 0MW plant located in Pagbilao, Quezon.
Ang said negotiations with landowners in the planned Mindanao sites are still being conducted.
“Ideally we are looking for industrial sites of at least 2000 hectares each, that gives the project scale, otherwise if it is too small foreign investors will not go there. An industrial estate can be developed in three years’ time. On each site we will put up a 300 MW power plant and we will add more for additional requirements,” he added.
The investment in Mindanao will cost $1.8 billion
In Mindanao, Ang said the region will not have oversupply, but that instead it needs more power.
“If you look at the per capita power consumption of the Philippines, with 100 million population the total baseload consumption of the country is 13,000 MW, while Thailand with a total population of 80 million has a consumption of 37,000 MW. They are consuming three times more than us,” he said.
Ang explained the low baseload was due to the concentration of power supply in Luzon. “Only Luzon has high consumption while in Mindanao it is still low. That’s why we need to put up more factories in Visayas and Mindanao so that we can help our people,” he added.