Philippines: GBCP to expand in Luzon, Mindanao, and renewable energy

Philippines: GBCP to expand in Luzon, Mindanao, and renewable energy

THE GLOBAL BUSINESS POWER CORP. (GBPC) IS LOOKING TO EXPAND IN THE LUZON AND
MINDANAO REGIONS THROUGH INVESTING IN TRADITIONAL POWER PROJECTS AND
ENTERING THE RENEWABLE ENERGY SECTOR TO DOUBLE ITS CAPACITY IN FIVE YEARS.

GBPC's newly-appointed president Jaime Azurin said that the company's main
thrust is to expand to other regions and establish "green" power plants
outside of its bunker and coal power plant portfolio.

This will allow the company to reach its goal of around 1,500 to 2,000 MW in
total capacity by 2022.

"So, that is the vision of our company for the next five years, to be able
to enter Luzon and Mindanao as well as to develop new technologies that will
complement the existing power plants that we have," he added.

GBCP's market share in Visayas is already at 29 percent, which is already
near the market share limitations (MSL) for generation companies of 30
percent.

The company is working on a 670-MW supercritical coal-fired power plant in
Luna, La Union that will be under the Global Luzon Energy Development Corp.

GBCP has already secured local government endorsements and land conversion
certificates, while transmission route surveys and engineering, procurement,
and construction (EPC) selection are ongoing.

They are also waiting for the Energy Regulatory Commission's approval of the
600-MW power supply agreement with Manila Electric Co. (Meralco).

Meanwhile, in Mindanao, the company is still exploring for possible
investments in the region but has already formed the Mindanao Energy
Development Corp.

As for its venture in renewable energy, GBCP is targeting biomass,
hydropower, and solar technologies to complement its current portfolio.

"Our goal is to be at least to have about 10 to 20 percent of renewables.
The technologies that we are looking at are biomass, hydro and solar,"
Azurin said.

A 100-MW hydropower plant is in the works but the company did not disclose
further details.

"A partnership is being discussed. We're discussing the partnership, which
could be closed by first quarter next year," Azurin said.

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Link to Original Article:
http://powerphilippines.com/2017/05/23/gbcp-expand-luzon-visayas-renewable-e
nergy/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com