SMC’s Sual Power takes over of Sual Power Plant
TEAM ENERGY CORP. ENDS CONTRACT
TEAM Energy Corp., a partnership between Japan’s Marubeni Corp. and Tokyo Electric Power, formally handed over operations of the 1,200-megawatt coal-fired power plant in Sual to the Philippine government on October 25, marking the end of its contract that began on May 20, 1994.
The Sual Power Station was developed under a build, operate and transfer (BOT) scheme and the transition was coordinated with the Power Sector Assets and Liabilities Management Corporation (PSALM).
On the same day, Sual Power Inc. (SPI), a subsidiary of San Miguel Global Power, received the facility from PSALM. SPI had previously managed the plant under an agreement with PSALM, which ended on the day of the transfer.
Mitsuhiro Kojima, Officer in Charge at TeaM Energy, said the plant is in excellent condition and ready to continue generating electricity for the Luzon grid.
He also expressed confidence in SPI’s ability to maintain a reliable electricity supply from the Sual plant.
The plant has also been a driving factor in the town’s growth from a fifth-class municipality to a thriving first-class town.
TeaM Energy will continue to operate the 735-MW Pagbilao Power Station in Quezon Province and has a 50% stake in the 420-MW Pagbilao Unit 3 Power Project. (Eva Visperas)
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