Manila Electric, the Philippines' biggest power distributor, is to build a 300 MW coal fired power plant in an area north of Manila.
This is the second project being eyed for the $2.3bn, 1500 MW power generation portfolio that Meralco is planning to build. The first, which was announced earlier, is the 150 MW LNG power plant in Laguna.
Meralco will likely start the construction of the coal fired power generation plant this year. It is targeted for completion in 2014.
In a briefing following the company’s stockholders’ meeting on Tuesday, Meralco chief operating officer Oscar Reyes said Meralco might be spending about $2m to produce a megawatt of power from this coal facility. This means the project may cost at least $600m.
Reyes said the coal project “would likely involve local and regional players.” “We are still in the process of identifying a strategic partner who should be one who can bring in value to the project,” Reyes said.