KEPCO -SPC Power Corp., a joint venture of Korean-owned KEPCO Philippines Corp. and SPC Power Corp., has awarded a $300-million contract to Doosan Heavy Industries and Construction Companies Ltd. for the establishment of a 200-megawatt (MW) coal-fired power plant in Naga town in the province of Cebu.

Under the engineering and construction contract, the two 100-MW units of the new plant should be completed in 39-42 months.

In a statement, the joint venture company said the plant would use circulating fluidized bed combustion technology -- described as a clean coal technology that complies with stringent environmental laws, including the Philippine Clean Air Act and World Bank standards.

KEPCO -SPC Power “took the risk of establishing the first power generation plant under the [Electric Power Industry Reform Act] without any government guarantee, not only to strengthen our Philippine investment portfolio, but also to address the projected power shortage in the Visayas grid and bring employment and business opportunities for Cebu,” Kepco-SPC Power president Lee Kang Won said.

Once completed, the Naga, Cebu, plant will supply power to six electric cooperatives that have signed sales contracts for 120 MW of power.

Philippine operations of Korea Electric Power Corp. (KEPCO) currently include Kephilco, which operates a 650-MW thermal power Plant in Rizal province, outside Manila, and KEPCO Ilijan Corp., which operates a 1,200-MW combined cycle plant in Batangas province.

The Korean power giant accounts for around 15 percent of the installed generation capacity in the Philippines. With INQUIRER.net

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Residential Commercial Developments
written by vahila, July 22, 2008

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