Metrobank unit expanding 164-MW Iloilo power plant

METROBANK affiliate Global Business Power Corp. (GBPC) is pushing through with the expansion of its 164-megawatt coal-fired power plant in Iloilo City.

The project will raise the plant’s capacity by 82 MW. It is aimed at meeting the anticipated growth in electricity demand in the region not only to serve the anticipated growth in electricity demand in the region but to also help lower power costs over the long run.

“Currently, Iloilo City and the island of Panay are encountering accelerated business growth particularly in the areas of real estate development, business process outsourcing and tourism industries. Based on our projections, we are expanding our power capacity to address the possible shortfall of supply in the Visayas grid by 2015,” said Jaime Azurin, GBPC EVP for business development and commercial operations.

In a statement, GBPC said the company, through its subsidiary Panay Energy Develop- ment Corp. (PEDC), has decided to exercise its option to proceed with the construction of a third 82-MW unit within the existing facility, which consists of two 82-MW units.

This option is part of the contract it signed in March this year with Formosa Heavy Industries. The contract was for another project, which involved the construction of a new 82-MW coal facility in Toledo City, Cebu to support the mining expansion plans of mining firm Carmen Copper Corp.

According to GBPC, the expansion of the coal plant in Iloilo City is expected to be completed by late 2014. Once all projects are completed, PEDC’s total generating capacity will reach 328 MW—of which 246 MW will come from the Iloilo coal plant and 82 MW from the Cebu coal facility.

“We are planning to start operations of the third unit in late 2014. As part of GBPC’s commitment to provide adequate, reliable and cost efficient power supply, we are expanding our existing facilities in Iloilo,” Azurin said.