San Miguel says units eyeing construction of Leyte, Negros Occidental power plants

ABS-CBN News

Posted at Mar 14 2022 02:28 PM

MANILA - San Miguel Corp said Monday Prestige Power Resources Inc and Reliance Energy Development Inc of SMC Global Power Holdings are eyeing the construction of 2 new power plants.

The companies "contemplate to construct, operate and maintain liquified combined-cycle natural gas plants in Tabango, Leyte and San Carlos City, Negros Occidental" with 600 MW and 300 MW capacities, SMC told the stock exchange.

The Leyte plant is estimated to cost P41.49 billion while the Negros Occidental plant will cost P18.5 billion, SMC said.

"Both plants will utilize fossil fuels to provide energy in a manner safe to the environment," it said.

San Miguel said the construction of the plants are expected to start in the third quarter of 2022, subject to the issuance of permits and licenses. 

The Leyte plant is expected to become operational by the first quarter of 2025 while the Negros Occidental plant could be operational by the third quarter of the same year, it said.

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