Semirara Mining and Power Corp. is not keen on acquiring any power plant and will instead develop a coal plant in Calaca, Batangas, a top executive said over the weekend.
SMPC chairman Isidro Consunji said the company was open to developing the 700-megawatt coal-fired power plant in Calaca, Batangas under St. Raphael Power Generation Corp.
“Yes, we are open to purchasing other plants, but the prices being offered in the market makes it better for us to pursue developing new plants like our San Rafael, rather than purchase existing plants,” he said.
Consunji earlier said SRPGC was not covered by the moratorium on new coal-fired power plants.
“St. Rafael is not part of the ban…The issue of St. Raphael is not a contract with Meralco. We are prepared to build it with or without an off-taker. The issue is it is not yet connected to the grid,” Consunji said.
He said the transmission line that would serve the power plant was “maxed out,” and the additional lines were not been built due to delays experienced by National Grid Corp. of the Philippines such as the right of way issues.
“As soon as the grid connection is resolved, then we will build San Rafael, two by 350 [MW] because we already have indications from the banks to fund it,” Consunji said. Alena Mae S. Flores
