San Miguel Global Power Holdings Corp. (SMGP) is lining up several expansion projects, including 2,400-megawatt-peak solar facilities, small scale liquefied natural gas (LNG) power plants and the proposed 600-MW Masinloc coal plant expansion to address the country’s growing power demand.
“The company plans to continue its strategic development of greenfield power projects in parallel with its plan to acquire existing power generation capacity. The company balances the need for reliable and cost-efficient operations with environmental performance, and views clean coal technologies and LNG power plants as viable and sustainable options for its greenfield power projects,” SMGP said in its securities offering prospectus.
“SMGP also actively seeks to identify and pursue renewable energy investments such as hydroelectric power and solar power projects, subject to the outcome of viability and feasibility analysis,” it said.
It said the planned expansion nationwide through greenfield power plants over the next few years would depend on market demand.
SMGP through subsidiary SMC Global Light and Power Corp. (SGLPC) plans to develop up to 2,400 MWp of solar facilities by 2039 in line with the company’s decision to significantly reduce its carbon footprint and transition to cleaner sources of energy.
SGLPC is putting up 117 solar power projects together with potential partners under the first phase of its expansion program totaling1,300 MWp across various sites in Luzon including in the provinces of Bataan, Bulacan and Isabela by 2028.
The second phase of the planned solar projects is expected to have an aggregate initial capacity of 1,100 MWp by 2039 across Pagbilao, Bohol, and various locations in Mindanao, including Davao.
“We target the completion of these solar power projects between 2028 and 2039,” SMGP said.
It said the proposed solar projects will be situated in areas with moderate to high photovoltaic potential using N-type solar panels supplied by Trina Solar Co. Ltd and LONGi Green Energy Technology Co. Ltd., with inverters from ABB / Sungrow Renewable Energy Investment Pte. Ltd.
SGLPC signed an investment and shareholders agreement with Citicore Renewable Energy Corp. for the 150-MW solar power plant in Mariveles, Bataan that is expected to be completed by 2026.
Meanwhile, SMGP is embarking on other expansion projects to boost its portfolio such as the development of small-scale liquefied natural gas (LNG0 units in Mindanao consisting of 50 MW to 100 MW, to boost rural electrification.
“The company is evaluating the timing on progressing the project depending on market conditions, the general state of the Philippine economy and demand, among others,” it said.