Phinma Energy Corp., the power arm of Phinma Group, is studying the feasibility of putting up three gas-fired power plants with a combined capacity of 904 megawatts, a top executive said Thursday.
The three projects include the 383-MW Sta. Ana combined cycle gas turbine power plant in Cagayan; the 383-MW floating CCGT power plant in Barangay Baquioen, Sual, Pangasinan; and the 138-MW Argao floating CCGT power plant in Barangay Bulasa in Cebu City.
“The area is conducive. We need a port for LNG [liquefied natural gas] CCGT,” Phinma Energy president Francisco Viray told reporters.
Viray said Phinma Energy requested for a grid impact study of the proposed projects.
“That’s the planned project. The technology we will use is combined cycle. We will import the gas,” Viray said.
He said the feasibility study would determine whether the project would be viable or not. It will also take into consideration transmission issues and supply and demand.
Phinma Energy announced last year it planned to put up an LNG import terminal and natural gas plant in Sual, Pangasinan.
Phinma Energy executive vice president Raymundo Reyes Jr. earlier said the planned LNG facility would be enough to power a 500-megawatt gas-fired power plant.
The company said the facility would supply gas for power generation and for industrial, commercial and transport applications.
Phinma Energy was also previously looking at a 900-MW coal fired power plant also in Sual, Pangasinan, but put the plan on hold amid increased supply.
It owns a 50-percent stake in the 270-MW South Luzon Thermal Energy Corp. in Calaca, Batangas. The company also owns power barges 101, 102 and 103 with a combined capacity of 96 MW.
Phinma Energy owns the 54-MW Guimaras wind project and has a stake in the 20-MW Maibarara Geothermal Inc.
