Philippines: Angat Hydro Power Plant to get $50 M upgrade

Philippines: Angat Hydro Power Plant to get $50 M upgrade

Angat Hydropower Corp. (AHC), co-owned by SMC Global Power Holdings Corp. of
the San Miguel Group and Korea Water Resources Corp. (K-Water), is rolling
out a $50-million upgrade of the 218-megawatt (MW) Angat Hydroelectric Power
Plant (AHPP) in 2017.

AHC president and CEO Geung Jeon Han said the planned rehabilitation would
improve the efficiency of the nearly 50-year old power plant.

"We have studied to rehabilitate the power plant and including the
overhauling of the power plant and some units," he said.

While capacity will remain at 218 MW, Han said efficiency of the plant "will
naturally increase" after the rehabilitation.

AHC is looking to invest $50 million for the project, which will be started
next year lasting seven years, the company official said.

Currently, the company is in discussions with local and international banks
for financing.

"We prepare for financing with Filipino banks and other international banks.
We are already processing. Hopefully, the end of this year or January next
year it is finalized already," Han said.

K-Water won the auction for the Angat HEPP on April 28, 2010 but was only
officially awarded by Power Sector Assets and Liabilities Management Corp.
(PSALM) in 2014 after the Supreme Court upheld the legality and validity of
the conduct of the bidding process.

In June 2015, SMC and K-Water sealed their partnership to rehabilitate Angat
Dam and the 218-megawatt Angat Hydroelectric Power Plant (AHPP).

AHC has earlier this month started the P1-billion Angat Dam rehabilitation
project to improve the stability of the facility especially during natural
calamities such as stronger earthquakes.

A concrete water reservoir embankment hydroelectric dam, the 47-year-old
Angat Dam supplies more than 90 percent of Metro Manila's water
requirements.

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Link to Original Article:
http://www.philstar.com/business/2016/11/21/1645694/angat-hydro-power-plant-
get-50-m-upgrade

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com