Prestige Power Resources Inc., a unit of SMC Global Power Holdings Corp., plans to build a 600-megawatt liquefied combined cycle power plant in Barangay Tugas, Tabangao, Leyte at a cost of P41.49 billion.
PPRI said in a statement the project would contribute 600 MW to the grid as baseload power plant to meet the country’s rising power supply requirements.
It cited data from the Department of Energy showing that electricity demand would grow 5 percent annually and reach 49,287 MW by 2040. The department said it welcomes all types of power generation technologies that are reliable, efficient, and cost-effective.
“As required by the Department of Energy, the company will develop a reliable, efficient, and cost-effective energy resource. PPRI proposes to use LNG—the cleanest of all fossil fuels—to provide energy in a manner that is safe to the environment,” the company said.
Construction is expected to begin in the third quarter of 2022 and commercial operations by the first quarter of 2025.
PPRI submitted the documents as part of its requirements to the Department of Environment and Natural Resources for public scoping.
San Miguel Corp., SMC Global’s parent, has been pursuing the development of LNG to meet the country’s growing power needs as it shies away from building more coal-fired power plants.
Reliance Energy Development Inc., another SMC Global subsidiary, also plans to develop a 300-MW LNG combined cycle power plant at the San Carlos City Ecozone in San Carlos City, Negros Occidental at a cost of P18.5 billion.
“The proposed project will also support DOE’s advocacy to shift to cleaner source of energy to reduce the GHG emissions from the energy sector,” REDI said earlier.