Meralco and EGCO to Build Power Plant in Quezon
The power generating arm of the Manila Electric Company (Meralco) is partnering with one of Thailand’s largest electricity producer to build a new coal-fired power plant in Quezon province.
In a disclosure to the Philippine Stock Exchange on Tuesday, Meralco said it authorized Meralco PowerGen Corporation to execute a development and other related agreements with Electricity Generation Public Company Limited (EGCO).
The deal involves building a 460-megawatt supercritical power plant under the Quezon Power Project in Mauban, Quezon.
According to World Coal Association, supercritical technologies operate at increasingly higher temperatures to achieve higher efficiencies than conventional coal-fired power plants and significant carbon dioxide reductions.
In July, EGCO International decided to invest in established and operating power projects in the Philippines such as the Quezon power plant in Mauban. In the process, the Thai energy firm sold its stake in Mindanao-based power producer Conal Holdings Corp. to Alcantara Group’s Alsons Consolidated Resources Inc.
Meralco earlier said it was in the planning stages of building 2,880 MW of new capacity to grow its power generation portfolio long-term ahead of a possible power supply crunch in Luzon in the next few years.