TVI inks P41-B deal with Hyundai, Galing for 300MW plant in Toledo

Aboitiz Power Corp. is set to start building the P41-billion, 300-megawatt (MW) coal-fired power plant in Toledo City, Cebu after it signed deals with two firms.

 

In an e-mailed statement Monday, AboitizPower said its wholly-owned subsidiary Therma Visayas Inc. (TVI) signed an engineering procurement and construction (EPC) contract with Korean company Hyundai Engineering Co. Ltd. and local firm Galing Power Energy Co. Inc. 

 

"Upon signing the EPC contract, TVI will be issuing a limited Notice to Proceed to perform design engineering and detailed physical data collection..." the statement read.

 

The plant, will have two 170 MW steam turbines and two circulating fluidized bed (CFB) boilers, is expected to go online by the third quarter of 2017.

 

AboitizPower CEO Erramon I. Aboitiz described the project as "a very important project for the Visayas grid."

 

The project comes at a time when the Department of Energy projects 2016 to 2018 to be a critical period for the Visayas grid. 

 

"We look forward to working closely on this project with our EPC contractor and the local community to ensure we deliver a quality power plant on time," Aboitiz said in a statement.

 

"This project will assure Cebuanos... will have adequate and competitively priced base load power supply in the island by 2017," he added.

 

The project is expected to create over 1,500 new jobs during construction, and about 150 new permanent jobs during operation. -NB, GMA News