Taiwan's Formosa to build 2 Philippine power plants
Taiwan's Formosa will construct 600MW capacity expansion of San Miguel Corporation.
An engineering, procurement and construction contract has been signed by SMC with Formosa Heavy Industries and local firm True North Manufacturing Services Corporation for two new power plants in Bataan and Davao.
“SMC Global recently signed an EPC agreement with Formosa Heavy Industries and True North Manufacturing Services Corporation for two new power plants in Bataan and Davao. Construction of both power plants, which will have a combined capacity of 600MW, will start this year,” the company has emphasized.
While no project cost was given, SMC Global is seen spending $900 million to $1.2 billion for the two greenfield developments.
The EPC deal was inked by True North Manufacturing Services president Domicinio B. Son, Formosa Heavy Industries assistant vice president Gu-Chuan Tsiou and SMC Global Power Holdings Corporation board directors Aurora T. Calderon and Ferdinand K. Constantino.
The 600MW projects will form part of the planned 3,000MW capacity expansion in the electricity generation sector earlier cast by San Miguel group in its energy investment blueprint.
The other projects eyed by the SMC group are power plants in Bulacan and Cavite for the Luzon grid; 600MW coal plant in Leyte and another 150MW in Panay; as we ll as the proposed 150-MW greenfield plant in South Cotabato.