Hong Kong-based Energy World Corp. Ltd. is planning to construct a power portfolio in the Philippines which includes natural gas facilities and renewable energy power plants, along with investments beyond $1 billion. The company’s natural gas projects include two liquefied natural gas (LNG) hub terminals worth approximately $150 million, and a 300 MW combined cycle gas turbine power plant which needs around $300 million.
"Times New Roman";mso-bidi-font-family:Arial\">The projects are situated in the province of Quezon and are planned to be executed in two phases. The first phase comprises the construction of a 130,000-cubic meter LNG storage tank, re-gasification facility, jetty and the installation of supporting infrastructure. The second phase includes setting up of another 130,000-cubic-meter LNG storage tank. The site of the terminal will be the closest to the Pagbilao coal-fed power plant of Team Energy that has a 230-kilovolt switchyard and a sheltered deep-water berthing for ocean-going vessels.
"Times New Roman";mso-bidi-font-family:Arial\">The 300 MW plant, which will be made up of two 150 MW units to be put up one after the other, is expected to become an efficient power-producing plant in Southeast Asia. When combined with the fuel gas from the terminal, it is likely to allow electricity to be generated and sold from the plant at competitive rates.
"Times New Roman";mso-bidi-font-family:Arial\">According to Eduardo T. Rodriguez, country manager for the local unit of Energy World, the LNG hub is expected to begin commercial operations by 2014 and the first 150-MW plant by either 2015 or 2016. The electricity from the power facility will be sold directly to the wholesale electricity spot market (WESM). The company, concluding the first phase of its natural gas projects with the LNG hub, seeks to establish a 120 to 140 MW hydropower plant at a cost of $400 million and a 200 MW wind farm in General Nakar, Quezon.
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