Pres. Duterte (at center), Dept. of Energy Sec. Alfonso Cusi (2nd from left, in white) accompany Aboitiz and Pagbilao power project execu...
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| Pres. Duterte (at center), Dept. of Energy Sec. Alfonso Cusi (2nd from left, in white) accompany Aboitiz and Pagbilao power project executives in the ceremonial switch-on of 420-MW Pagbilao Unit 3 power facility. (JOHN A. BELLO) |
by John A. Bello
PAGBILAO, QUEZON – A new 420-megawatt (MW) coal-fired power project was constructed in the existing 735 MW power facility in Bgy. Ibabang Polo here and was inaugurated on Thursday by no less than Pres. Rodrigo Duterte.
The newly completed Pagbilao Unit 3 power facility, a joint project of Team Energy and Aboitiz Power, is expected to boost and stabilize energy supply in the Luzon grid.
Duterte, who read a 2-page speech about the benefit of the establishment of the new power facility here to the local and national economy, to trade and tourism, said the completion of the new power project will help energize communities and even far-flung areas and hills so even the communist New People’s Army rebels will be benefitted so that they have to cease their armed struggle with the government and come down already for the country’s peace and progress.
Duterte, together with Dept. of Energy Sec. Alfonso Cusi; Erramon Aboitiz, chairman of Aboitiz Power Corp.; John Acordo, president of Pagbilao Energy Corp. and other power firms officials led the ceremonial switch-on ceremony of the new power facility at the stage to signify its formal commercial operation.
Looking on at the ceremonial switch-on below the stage were Francis Tolentino, presidential consultant for political affairs; ex-justice Sec. Vitaliano Aguirre among other national and regional government officials; and local officials such Quezon Gov. David Suarez, Quezon 1st district Rep. Katrina Enverga, Vice Gov. Sam Nantes and Sang. Panglalawigan board members; and various provincial, municipal and barangay local government and police officials.
The president arrived at the plant site around 4PM with Special Assistant Christopher ‘Bong’ Go and several officials and presidential security guards which signaled the formal start of the brief program. He and Go proceeded to ascend the stage under a huge built canopy and just a stone’s throw away from the power plant facilities and the over-100 meters 2 chimneys.
Alcordo said the new power facility is a baseload, merchant power plant equipped with a flue-gas desulfurizer and is designed to ensure compliance with all pertinent environmental rules and regulations.
“I am proud to say that even before Pagbilao unit 3 became operational, long before a single kilowatt-hour of electricity was generated, we already partnered with provincial, municipal and barangay officials in implementing CSR (corporate social responsibility) programs, Acordo said and citing the rehabilitation of pediatric ward at Quezon Medical Center in partnership with the Gov. Suarez, the Balik Aral program for out of school youths with Pagbilao Mayor Sherry Ann Palicpic, and the provision of solar streetlights with Bgy. Iba. Polo chairman Arnel Amandy.
Alcordo, also chairman and chief executive of Team Energy Corp.(TEC), viewed the project “as an investment in the country’s future” that will “light up homes and industries, give comfort to families, enable productivity and help create employment for Filipinos”.
The new power project began its construction in Dec. 2014 and is located adjacent to the existing Units 1 and 2 of the Pagbilao Power Station which has been in operation since mid-90s and have a total generating capacity of 735MW.
According to TEC, the newly-built power facility was developed and constructed at a cost of $976 million. A total of up to P33.3 billion debt financing was secured by Pagbilao Energy Corp. through the joint lead arrangers composed of BDO Capital and Investment Corp., BPI Capital Corp., and First Metro Investment Corp. SB Capital Investment Corp. serves as co-lead arranger for the project while PNB Capital and Investment Corp. and China Banking Corp.are co-arrangers with Phil. Savings Bank also as lender to the project.
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