Toledo Power breaks ground for P10B plant

CEBU, Philippines - Toledo Power Corporation, a wholly owned subsidiary of Global Business Power  Corporation (GBPC), breaks ground yesterday for another 82 megawatts (MW) clean coal-fired power plant expansion project as an addition to its existing coal plant in Toledo City, Cebu.

The multi-billion project is intended to supply the electric power requirement  of Carmen Copper Corporation beginning December 26, 2014.

GBPC Chairman Francisco Sebastian disclosed that the project, which is worth  US$1 billion or P10.2 billion, is the biggest investment not only in Toledo and Cebu but in the entire Visayas.

“As a testament of our continuing commitment to the Visayas region, we are  investing an additional P10.2 billion to replace Toledo Power’s existing coal facility with the latest clean coal technology to provide more efficient power supply,” Sebastian said.

He said that the same clean coal technology is being used in Cebu Energy’s 246 MW and Panay Energy’s 164 MW plant facilities.

Sebastian reiterated that through the 82 MW expansion project, Toledo Power will be providing 500 jobs during the construction phase, 120 direct and indirect jobs upon operation and additional tax revenues to Toledo City, which is the host community.

Toledo Power’s expansion project has commissioned Formosa Heavy Industries (FHI) to provide the design, engineering, procurement and construction of the expansion facility.   It is the largest independent producer in Taiwan with 16,000 MW and they will be giving 82 MW for this project.

FHI president K. H. Wu and executive vice president Charlie Tsiou personally  attended the ground breaking ceremonies yesterday straight from Taiwan to show their full support for the project.

GBPC’s commitment to provide adequate, reliable and cost-efficient power supply started in 2002 when it acquired Toledo Power Company (TPC).

TPC was initially built to power the Atlas mines in the 1960’s until its closure in 1990’s.

“Today’s milestone is very dear to our hearts. Toledo Power has brought into Global Power its more than four decades of technical expertise in power generation. Nearly five decades after its establishment, Toledo Power will once again supply the power requirement of the Atlas mines through Carmen Copper Corporation,” said Sebastian.                            Carmen Copper, a subsidiary of Atlas Consolidated Mining and Development Corporation, will need additional electric supply to power its mining expansion undertakings.

Toledo City Mayor Aurelio Espinosa, who is celebrating his birthday today, said that the project is the best advance Christmas gift for Toledo City since the employment and the economy will be vibrant once again.

The newly-appointed Department of Energy (DOE) secretary Carlos Jericho Petilla appreciated the partnership made by these private and public entities.

“We appreciate what they are doing. Energy is becoming complex. So with the private sector putting plants will alleviate our problems. The private sector should step in,” said Petilla, who also gave advice to Espinosa to take care of their private partners.

Signaling the formal start of the construction project, the groundbreaking ceremony was attended by Metrobank chairman Dr. George S. K. Ty, Sebastian, GBPC president Arthur Aguilar, Wu, Petilla, Espinosa and Vice Mayor Arlene Zambo.

Apart from the 66 MW coal fired power plant in Daanlungsod, Toledo Power also operates a 40 MW diesel fired power plant in Carmen, Toledo City.

GBPC, one of the leading independent power generators in the Visayas region, has a total of 633 MW power plants in Cebu, Iloilo, Aklan and Oriental Mindoro. It is a member of the GT Capital Group of Companies of which Metrobank is the flagship company. — /MBG (FREEMAN)