Power supply agreement okayed for Philippine coal power plant

A power supply agreement between Socoteco II and the upcoming 100MW Sarangani coal plant has been approved by the Energy Regulatory Commission.

The supply purchase by Socoteco II will cover 70 megawatts of the facility’s installed capacity.

The volume already provides comfortable level for lenders to finance the project.

The Sarangani project's phase 2 has been designed for another 100-MW capacity, which shall be implemented six months after the completion of the first unit by 2015.

“The Commission considers the SEC project cost to be reasonable as it is lower or comparable to the total project costs of the other coal-fired power plants which have recently been approved,” the Energy Regulatory Commission has stated in its decision.

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