Philippines: San Miguel unit eyes 500-MW hydro plant in Tarlac

Philippines: San Miguel unit eyes 500-MW hydro plant in Tarlac

A unit of listed conglomerate San Miguel Corporation (SMC) plans to build a
500-megawatt pumped storage hydro project in Tarlac province, once
regulators approve its application for a service contract.

SMC told the Philippine Stock Exchange on Wednesday, August 2, that its unit
Strategic Power Development Corporation (SPDC) has a pending application
with the Department of Energy (DOE) on the development of Bulsa hydro plant
in Tarlac.

"By way of response to the stock exchange, we confirm that, as reported in
the aforementioned article, SPDC is interested in developing the
500-megawatt hydro project in Tarlac, subject to the issuance of the
relevant governmental approvals and consents," SMC corporate information
officer Ferdinand Constantino said in a disclosure.

In May 2017, the DOE approved 3 power projects of SMC. (READ: Meet Ramon
Ang, Filipino billionaire and Duterte's friend)

These are the 100-megawatt Nabuangan run-of-river hydro in Apayao, the
500-megawatt Dingalan pumped storage hydroelectric plant in Aurora, and the
400-megawatt San Roque Lower East Pumped Storage in Pangasinan.

More plants

SMC, which owns one of the country's biggest oil refiners and retailers, is
set to break ground on its single biggest investment in the Philippines so
far: a new petrochemical facility worth $15 billion (P745.46 billion) to $20
billion (P993.95 billion) south of Manila.

Petron Corporation, SMC's subsidiary, has another oil refinery in Limay,
Bataan, which it also plans to expand. Petron had earmarked a total of $500
million (P24.86 billion) to upgrade its refinery in Bataan.

Other than the Bataan plant, SMC plans to spend at least $1.5 billion
(P74.57 billion) to expand the capacity of its oil refinery in Malaysia to
150,000 barrels a day from 88,000 barrels a day.

Meanwhile, SMC Global Power Holdings holds Sual Power Plant in Pangasinan,
Ilijan Power Plant in Batangas, and San Roque Hydroelectric Multipurpose
Power Project in Pangasinan.

In the next 5 years, Ang expects San Miguel to triple its income. The
conglomerate's net income in 2016 surged by 80% to P52 billion from P28.9
billion in 2015, as most of its units delivered strong growth.

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Link to Original Article:
http://www.rappler.com/business/177475-san-miguel-corporation-hydro-tarlac

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com