October 28, 2024 | 12:00am
MANILA, Philippines — A subsidiary of San Miguel Global Power has assumed control of a massive coal-fired station in Sual, Pangasinan after the contract with Japanese-controlled Team Energy Corp. ended.
Last Friday, Sual Power Inc. (SPI) took over the operations of the 1,200-megawatt (MW) Sual thermal power plant, which has been providing electricity to the Luzon grid since 1999.
After over 25 years, Team Energy handed back the power station to the government through the Power Sector Assets and Liabilities Management Corp. (PSALM).
The facility, which consists of two 600-MW generating units, was developed under a build-operate-and-transfer scheme with the government, then represented by National Power Corp.
“We completed last Oct. 25 the turnover of the Sual power station to Napocor and PSALM. For the past year, there has been close coordination with Napocor, PSALM and SPI to ensure a seamless transition process,” Team Energy officer-in-charge Mitsuhiro Kojima said.
He said the facility was turned over in “excellent condition, ready to continue generating electricity for the Luzon grid.”
On the same day of the transfer, SPI received the power plant from PSALM.
SPI previously served as the independent power producer administrator of the Team Energy-operated Sual facility, pursuant to an agreement signed between SPI and PSALM in 2009.
With the transfer of the plant from Team Energy to PSALM, the agreement likewise ended, enabling SPI to take ownership of the facility.
“We will be leaving the plant in the hands of a capable, highly respected organization. It has been a great pleasure working with them,” Kojima said.
A partnership between Japanese firms Tokyo Electric Power Co. and Marubeni Corp., Team Energy is one of the largest independent power producers in the Philippines.
“The Sual power station has contributed to the development of the Philippines by generating reliable, cost-effective energy that has energized homes, factories, offices, schools and hospitals,” the executive said.
“The Team Energy organization is especially proud to have done its share in helping the Philippines recover from the COVID-19 pandemic despite the challenges and obstacles we faced in running the plant during those days,” he added.
Team Energy will continue to operate the 735-MW Pagbilao power station in Quezon province and also maintains a 50-percent stake in the 420-MW Pagbilao Unit 3 power project, a partnership with Aboitiz Power Corp.
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