Conglomerate San Miguel Corp. plans to put up more power projects with a combined capacity of 2,100 megawatts and costing $4.2 billion to solidify its hold in the energy sector.
San Miguel president and chief operating officer officer Ramon Ang told reporters the company planned to build three power plants with a capacity of 300 megawatts in industrial estate projects in Mindanao.
Ang said each industrial estate development would cover about 2,000 hectares. The company is now developing an industrial estate in Davao del Sur province.
“We’re doing those projects in Davao. We want to help address power shortage in Mindanao. We’re putting up industrial estates. We want to create lots of job opportunities for the people of Mindanao,” Ang said.
“We have so many projects in Mindanao. We’re putting up a food complex in Phividec. We will also put up power plants in the industrial estates. We want to put up at least three industrial estates in Mindanao where businesses can locate,” he said.
He said San Miguel planned to put up an initial 300-MW power plant in each industrial estate in Mindanao. Each power plant costs $2 million per MW for a total investment of $1.8 billion.
Ang said a single ship building locator could consume as much as 300 MW of electricity.
The planned industrial estates offer low, long-term lease rate, growing skilled workers, a 20-meter deep international port to accommodate container vessels and a private airport.
Ang also confirmed that the company recently signed two power supply agreements with Manila Electric Co. from two power projects of San Miguel.
San Miguel is building a 600-MW coal plant in Pagbilao, Quezon under Central Luzon Premiere Power Corp.
It is also putting up another 600-MW plant in Mariveles, Bataan under Mariveles Power Generation Corp.
Ang said the 1,200 MW projects were estimated to cost a combined $2.4 billion and projected to be completed by 2018 to 2019.
San Miguel is nearing completion of the first phase of its 600-MW coal-fired Limay power plant in Barangay Lamao, Limay, Bataan and the 300-MW coal-fired Malita power plant in Davao City.
San Miguel has become one of the country’s biggest power players today.
The company owns a stake in the Angat hydro power plant. It plans to put up several pumped storage hydro projects.
San Miguel also trades the capacity of the 345-MW San Roque Multipurpose hydroelectric power plant in Pangasinan and those of the Sual coal plant in Pangasinan and the Ilijan natural gas power facility in Batangas.