Meralco PowerGen plans $2 billion expansion for coal-fired plants

• 6 days ago (2024-11-28)
• David Flin

Asia 894 Coal 298

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Meralco PowerGen , the power generation arm of Manila Electric Co (Meralco), has outlined a $2 billion investment plan to develop two coal-fired power facilities in Cebu and Quezon. These consist of the 1200 MW Atimonan plant in Quezon and the 80 MW Toledo project in Cebu.

Emmanuel Rubio, President and CEO of Meralco PowerGen, estimated that the investment would be approximately $1.6 million per MW, for a total capital outlay of $2 billion for the combined 1280 MW capacity of the two plants. Both projects have obtained environmental compliance certificates from the Department of Environment and Natural Resources.

Meralco PowerGen expects to secure board approval by February 2025, then proceed with a competitive selection process.

Development of these coal plants hinges on government clearance confirming their exemption from the coal moratorium implemented by the Department of Energy in 2020. The moratorium restricts new coal facility applications but does not apply to operational plants or projects with substantial progress and approved local clearances.