PNOC seeks power plant investors

Will build coal-fired power plants in two Philippine provinces.

The Philippine National Oil Company Exploration Corporation will build the plants on coal mine properties it owns in Isabela province in northern Luzon island and in Zamboanga Sibugay in the southern island of Mindanao.

The two projects are expected to cost US$42 million and will generate 100 megawatts each. It expects the competitive selection process to start within this first quarter.

PNOC-EC said it will maintain minority stakes in both projects. For the Isabela power plant, the chosen joint venture partner will be involved in mining the coal that will be used in the power station and marketing the generated electricity.
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The joint venture partner for the Zamboanga Sibugay project will be involved in the development and operation of the power plant and marketing the generated electricity.

PNOC-EC is the upstream oil and coal arm of state-owned Philippine National Oil Company.