MANILA, Philippines - Toledo Power Corp., a subsidiary of Global Business Power Corp., is investing P10.2 billion to replace its existing coal-fired power plant with clean coal technology.
"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," Global Power chairman Francisco Sebastian said, in a statement.
The clean coal technology is being used in Cebu Energy's 246MW and Panay Energy's 164MW plant facilities.
On Sunday, Toledo Power broke ground for its 82-MW clean coal-fired power plant in Toledo City, Cebu.
The project, an extension of its existing coal plant in Toledo, will supply the electricity requirements of Carmen Copper Corp. starting December 26, 2014. Carmen Copper is subsidiary of Atlas Consolidated Mining and Development Corp.
"Through this 84MW 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 the host community," Francisco said.
Aside from the 66 MW coal fired power plant in Daanlungsod, Toledo Power operates a 40 MW diesel fired power plant in Carmen.
Toledo Power is part of the publicly listed GT Capital Group of Companies.