The Panay Energy Development Corp. (PEDC) is looking to operate its P15.6 billion Iloilo coal plant expansion this month following its successful synchronization to the Visayas Grid.
PEDC has connected the PEDC3 150-megawatt (MW) expansion plant to the Visayas grid on August 19 through the National Grid Corp. of the Philippines (NGCP)’s Sta. Barbara substation in Iloillo.
“This marks another step towards the fulfilment of our continuing commitment to provide clean and efficient power to the region and contribute to its continued development,” Global Business Power Corp. (GBPC) President Rolando Bacani said.
The PEDC is a subsidiary of GBPC, which is a Visayas-focused power producer.
The coal plant is expected to provide power to the Manila Electric Co. (MERALCO), Iloilo Electric Cooperatives I, II, and III, as well as the Antique Electric Cooperative and the Guimaras Electric Cooperative of Panay-Guimaras Power Supply Consortium.
PEDC’s third plant is a boon to the Visayas region that is in need of more reliable power supply.
The expansion project was originally planned to consist of two units of 82 MW facilities to be completed in 2014.
The plant was funded through a P11 Billion, 12 – year syndicated loan from local banks namely Bank of the Philippine Islands, China Banking Corp., Land Bank of the Philippines, Rizal Commercial Banking Corp., Philippine National Bank and the Philippine American Life and General Insurance Co.
