Korean firm eyes another power plant

CEBU, Philippines - A Korean firm has expressed interest to put up another power plant in Cebu to address the dwindling power supply of the province.

The officials of Korea Southern Power Co., Ltd. (KOSPO), a subsidiary of Korea Electric Power Corporation, visited Governor Gwendolyn Garcia yesterday to express interest of putting up another power plant in Cebu.

“We proposed this project for business decision and to help the Philippines since they need it,” said senior manager Byeong Jin Choi of the Overseas Business Team, Business Development Department of KOSPO.

During the meeting Garcia told the visiting Korean businessmen that there are already two power plants ready for completion within this year which would give an added capacity of 446 megawatts.

The additional power supply would come from Kepco-Salcon Power Corporation and Cebu Energy Development Corporation.

Garcia said the additional power was initially projected to be enough for the next 10 years. However, Garcia said that at the rate Cebu is developing with power requirement alone rising at an average of 12 to 14 percent year after year, this additional capacity of 446MW might only be good for the next three to four years.

“We must sustain this growth and we must continue to encourage investors in the power industry,” Garcia said in a news conference.

KOSPO is looking into the report of the Governor and they will be looking at possible site where they can put up the power plant.

Rep. Benhur Salimbangon was with the group yesterday and has offered a considerable area in the fourth district ideal for the power plant with nearby port for delivery of the needed construction materials.

Byeong said that they still have to decide in Korea as to the possible site of the power plant.

In the business portfolio of KOSPO, it includes Bituminous coal. LNG, pumped water, wind power and solar photovoltaic power plants.

Garcia assures “self-anointed environmentalists” the possibility of KOSPO to explore the putting up of wind power plant.

“This is something very positive. It shows that in fact investors are looking at Cebu and recognizing the fact that the climate for investment is very ideal here especially when I assure them of my whole hearted support as I had already demonstrated,” Garcia said.

Garcia told KOSPO officials to refer to its sister-company, Kepco, and ask how she fully supported “from the beginning up to now as it continues to be challenged by misguided elements in the society.”

KOSPO Company has high hopes for a positive response from the Governor whom they had anticipated the project with.

KOSPO has no target date yet but Garcia said the biggest decision they must make whether they will or they can.

“They have recognized the fact that it will take a very strong leadership on the part of the provincial government in order for a project of this magnitude to take off,” Garcia added.(FREEMAN NEWS)