SAN BUENAVENTURA POWER LTD. CO.
In response to the increased demand for additional power in Luzon, the San Buenaventura Power Ltd. Co. (SBPL) is now undertaking the construction of a 500-megawatt power plant in Mauban, Quezon.
SBPL is a partnership between the Meralco PowerGen Corporation (MGen), the power generation arm of the Manila Electric Company (Meralco), which owns a 51% stake; and New Growth BV, a wholly-owned subsidiary of Electricity Generating Public Company Limited (EGCO Group) of Thailand, which owns the remaining 49% stake in the business.
Once completed, this power facility will become the first coal plant in the Philippines to utilize the state-of-the-art supercritical technology that has been proven to increase operational efficiencies and significantly reduce emissions.
The project’s P42.15-billion funding is regarded as the biggest all peso project finance transaction in the Philippines to date, and has been distinguished as the Asia Pacific Power Deal of the Year by the Project Finance International in 2016.