Semirara Mining & Power Corp. expects to start the full commercial operations of the 300-megawatt coal-fired power plant expansion in Calaca, Batangas in November, a top executive said Friday.
Semirara Mining chairman and chief executive Isidro Consunji said the project, which involved two units of 150-MW capacity each, was undergoing testing and commissioning.
“Both [are] under commissioning… Maybe in two weeks, [it will be fully operational],” Consunji said, when asked about the project update.
Semirara Mining’s subsidiary South Luzon Power Generation Corp. is developing the 300-MW coal plant expansion.
The Consunji group owns the existing 600-MW coal-fired power plant in Calaca, Batangas which it acquired from the government in 2009.
The plants have also undergone rehabilitation to ensure reliable delivery of power.
“With the normalization of Sem-Calaca Power units 1 and 2 and completion of our power expansion project under Southwest Luzon, we expect both operating segments to deliver steady growth for the company,” Consunji said earlier.
He said the company was optimistic about prospects for 2015 and onwards with the rehabilitation of the existing plant and the completion of the expansion project.
“This year the 2 by 150 MW will start contributing revenue from the sale of power from new power supply agreements,” he said.
Semirara Mining is on the lookout for a possible joint venture partner for another 350-MW power plant in Calaca which would cost P22 billion.
A new company would be created for the expansion, although it was not clear if the new plant would be located on the same site as the existing 600-MW Calaca coal facility and the 300-MW station nearing completion.
Semirara engages in the exploration, development and mining of coal resources in the Philippines. The company holds interests in various coal resources located in Semirara Island, Caluya, Antique.
Semirara said earlier it expected consolidated net income to reach P10 billion this year, on additional generating capacity from new power projects and increased utilization of current plants.
The company said it expected an estimated income of P1 billion from the commercial operations of the 300-megawatt coal power plant expansion in Calaca.
