TeaM Energy Philippines Corp. is looking to invest in greenfield baseload and renewable projects to expand its power portfolio in the country.
The company is looking for opportunities in Luzon and in Visayas as it wants to remain a long-term player in the country’s power industry, TeaM Energy Chairman and CEO John Alcordo said.
“They vary in size, anywhere from 100 (megawatts) MW to 300 MW, I would say. We’re open to renewable energy, hydro, of course baseload. We’ll see how LNG shapes up over the next few years,” he added.
The Japanese shareholders of the TeaM Energy want to invest in the Philippines, a company official said.
“It’s either going to be… if there are any acquisitions, joint ventures, greenfield opportunities, we’ll be on the lookout for that,” he said.
Alcordo said the company’s two projects are under a 25-year build-operate-transfer (BOT) scheme which will end in 2025.
“If we don’t do anything, in seven years, from over 2,400 MW, we’ll go down to just 400 MW. Obviously, we want to maintain that level as much as possible,” he said.
The projects under BOT scheme are the 735-MW Pagbilao coal plant and the 1,200-MW Sual coal plant in Pangasinan, which will be turned over to to Aboitiz Power Corp. and San Miguel Corp., respectively.
Currently, TeaM Energy has 2,400 MW in capacity which include the 735-MW Pagbilao Units 1 and 2 coal plant, the 1,200-MW Sual coal plant in Pangasinan and the recently inaugurated 420-MW Pabilao Unit 3 coal-fired power plant.