A Japanese company expressed interest to put up a 1,000-megawatt power project that will run on liquefied natural gas in the Philippines, according to Energy Secretary Alfonso Cusi.
Cusi said the Japan International Cooperation Agency was also interested in funding the construction of the LNG facility. He said this was one of the positive commitments received by the Philippine government during the recent Tokyo visit of President Rodrigo Duterte.
“A Japanese company will be the one [to put up the power plant],” Cusi said. The power plant could be deployed in 18 to 24 months, he said.
FGen LNG Corp., a joint venture of First Gen Corp. and Tokyo Gas of Japan, last month broke ground on the $1-billion LNG terminal project and announced plan to build a 1,200-MW power project in Batangas City.
Once completed, the LNG terminal will allow the Philippines to import and store LNG and ensure a stable supply of clean energy once the Malampaya natural gas field in northwest Palawan is depleted by 2024.
Cusi said in a statement that the Energy Department would fast-track the contracting of new generating capacities for 2023 to 2030.
“We have the next three years to help President Duterte realize his vision of helping Filipinos lead stable and comfortable lives. As we revisit the DoE’s mid-term action plan, we must think, serve and formulate the appropriate policies in accordance to what will help bring accessible, reliable and affordable energy throughout the entire country,” he said.
Cusi said the department would remain relentless in finding ways to help bring down the costs of power in the country, following the Supreme Court ruling on subjecting power supply contracts to the competitive selection process to protect the consumers.
He also said the missionary electrification and the attainment of 100-percent household electrification all over the Philippines would remain the top priority of the agency in cooperation with the National Electrification Administration, National Power Corp. and the private industry players.
Cusi said the DoE “will ensure the sustainable implementation of the rules and laws for the security of our energy supply through competition, access to bilateral markets, anti-monopoly measures, least-cost power, and the protection of the environment.”
He said that despite being technology-neutral, the department would continue to help protect the environment and address climate change concerns by exploring the utilization of the latest technologies that are environmentally sustainable.
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