|PEDC inaugurates 150MW power plant|
|LA PAZ, ILOILO, 23 November 2016 – PANAY ENERGY Development Corporation (PEDC) inaugurated today its 150 MW expansion project in Barangay Ingore, La Paz District in the City of Iloilo.
During the ceremony, GBP and PEDC officials were joined by Energy Secretary Alfonso G. Cusi, Iloilo City Mayor Jed Patrick E. Mabilog and Iloilo Governor Arthur D. Defensor Sr.
The 150 MW clean-coal power plant is the largest single generation unit in the Visayas to-date and is projected to provide adequate, reliable, clean, and cost-efficient power to the residents and businesses in the region.
PEDC is a subsidiary of Global Business Power Corporation (GBP), one of the largest power producers in the Visayas. The P15.6-billion expansion project is the GBP Group’s latest investment in the province. It had invested a total of P20 billion for PEDC’s first two 82 MW clean-coal plants in 2011.
“Today’s inauguration ceremony underscores our commitment to support the economic growth of the region,” said GBPC chairman Jose Maria K. Lim. “By providing adequate power supply, we are fueling the growth of industries and the availability of jobs in Panay, thereby providing a viable alternative to the already congested Metro Manila,”
“We are hopeful that in supporting the accelerated growth in Panay, particularly in Iloilo, we are contributing to the government’s quest for sustainable and inclusive growth in all areas of the country,” added Lim.
The economy of the region has been on an upswing in recent years. Western Visayas was the second fastest growing economy in the country last year with its gross regional domestic product (GRDP) growing by 8.3 percent in 2015 according to the Philippine Statistics Authority (PSA). Its GRDP grew by 5.2 percent in 2014 and by 3.4 percent in 2013.
“We are proud to be able to respond to the region’s growing energy requirements and contribute significantly to its baseload capacity,” said GBP president Rolando T. Bacani.
Bacani shared that because of its size, PEDC will be able to offer a good rate in the market because the expansion project offers lesser operating cost. “We can expect efficient use of fuel from a single larger plant of 150 MW that is equipped with the latest Circulating Fluidized Bed (CFB) boiler technology,” he said.
“We were also able to reduce the project’s development cost since there are existing facilities which can be shared with the expansion plant,” explained Bacani. He pointed out that the cost benefits of a larger plant is in addition to substantial cost savings arising from the common facilities like the jetty and water treatment facilities for the existing units already completed in 2011 which can service the new plant. “In the end, these all serve the best interest of the consumers,” he added.
He also reported that the third unit of PEDC is already contracted to provide power to Iloilo Electric Cooperatives I, II, and III, as well as the Antique Electric Cooperative. It is also providing electricity to the Guimaras Electric Cooperative of the Panay-Guimaras Power Supply Consortium. In February 2017, PEDC will also produce and supply power to Manila Electric Company (Meralco).
Global Business Power is owned by Beacon Electric Asset Holdings Inc. and Meralco PowerGen of Metro Pacific Investments Corp. (MPIC) and JG Summit Holdings, Inc.