NGCP forms technical group for LMIP

National Grid Corporation of the Philippines (NGCP) president Henry Sy Jr. formed a special working group to look closely at the proposed Leyte-Mindanao Interconnection Project (LMIP) amid criticisms about its reliability. NGCP senior technical adviser Guillermo Redoblado said the creation of the technical group showed the company's commitment to complete the interconnection loop to ease the supply problem in Visayas and Mindanao. "A team is working on it. The project still needs approval of the Energy Department and the Energy Regulatory Commission, although it's still in the pipeline," Redoblado said. Redoblado said the team will soon submit its recommendation to the NGCP board. "We formed a technical team for that... [which] will present it to the National Grid board for approval," he said. To show strong commitment to pursue the project, they intend to include the LMIP in the latest Transmission Development Plan. Redoblado did not give exact project cost, but said this could go higher than the initial estimate of P18 billion. On Jan. 15, 2009, state-owned National Transmission Corp. (TransCo) officially turned over the management and operation of its nationwide power transmission system to NGCP. The concession period is for 25 years and renewable for another 25 years. Sy Jr. 's One Taipan Corp. acquired a 30-percent share of Monte Oro in NGCP at approximately $350 million. One of the crucial TransCo projects before the takeover of NGCP last year is the LMIP which will complete the country’s grid loop. —VVP/VS, GMANews.TV