Ayala-Phinma venture expanding Batangas coal-fired power plant
MANILA, Philippines - The South Luzon Thermal Corp. (SLTEC), a joint venture the Ayala Group of Companies and the Phinma Group, is expanding its 2x135 megawatt (MW) coal-fired power plant in Calaca, Batangas.
The National Grid Corp. of the Philippines (NGCP) has issued on Aug. 3 a grid impact study on the 600-MW expansion of SLTEC’s Calaca facility that would determine if the electricity to be generated by the power project can be absorbed by the grid.
SLTEC is a 50-50 joint venture of Trans-Asia Oil and Energy Development Corp. of the Phinma Group and AC Energy Holdings Inc. of the Ayala Group.
Both firms signed the joint venture agreement in 2011 to develop and operate the coal power plant. A combined investment of P23 billion was poured into the project.
The first unit of the 2x135 MW plant started commercial operations last April, contributing the much needed additional capacity in the Luzon grid during the summer season.
The second unit is expected to be completed by year-end and would start contributing another 135 MW to the grid by 2016.
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