Mr. Jakgrich Pibulpairoj, President of Electricity Generating Public Company Limited or EGCO Group disclosed that “The San Buenaventura power plant managed by San Buenaventura Power Ltd. Co. (SBPL), the joint venture company of EGCO Group and Meralco PowerGen Corporation, in the proportion of 49% and 51% respectively, started its commercial operation on September 26, 2019. The new power plant would constantly generate more revenues for the Company with its earning to be recognized in the fourth quarter this year onwards. In the meantime, the power plant will help ensure a more stable supply of power on the Luzon Island, the Philippines.
The San Buenaventura, located at the site adjacent to the existing Quezon power plant in Mauban, Quezon Province of the Philippines, is a coal-fired power plant utilizing highly efficient supercritical boiler technology with having an advantage of promoting efficient fuel consumption. The power plant has a gross output capacity of 500 MW, of which the entire net capacity of 455 MW is contracted for sale to the Manila Electric Company (Meralco) under a 20-year Power Supply Agreement with 5-year term extension.
With this power plant, EGCO Group presently has 27 operating power plants with total equity contracted capacity of 5,315 MW in 6 countries – Thailand, Lao PDR, Philippines, Indonesia, Australia and South Korea. There are 3 projects under construction with total equity contracted capacity of 331 MW. The Company’s power plants generate electricity using various fuel sources such as natural gas, LNG, coal, biomass, hydro, solar, wind, geothermal and fuel cell.