Pagbilao Energy Corp. is set to start the commercial operations of the $1-billion 420-megawatt Pagbilao 3 coal-fired power project in Quezon province by November this year.
Energy Department records showed the new power plant would begin testing and commissioning in May, and would help secure the country’s power generation requirements this year.
Pagbilao Energy is a joint venture between TPEC Holdings Corp. and Therma Power Inc., wholly-owned subsidiaries of TeaM Energy Corp. and Aboitiz Power, respectively.
TeaM Energy, the joint venture of Tokyo Electric Power Co. and Marubeni Corp., currently operates the existing 735-MW Pagbilao coal plant.
“We are pretty much on time and budget and so far construction is on going. Construction is progressing well,” Aboitiz Power Corp. president and chief operating officer Antonio Moraza said earlier.
Pagbilao Energy announced in 2015 the joint venture partners were investing close to $1 billion to put up the coal project. Construction of the project started in the same year.