Semirara still keen on Batangas power plant
Semirara Mining and Power Corp. (SMPC) is putting on hold a project in Batangas due to the right-of-way problems being encountered by the grid operator.
“We remain interested in pursuing the SRPGC (St. Raphael Power Generation Corp.) but due to the legal challenges NGCP (National Grid Corporation of the Philippines) is facing from property owners of right-of-way issues, we do not anticipate moving forward with this initiative anytime soon,” said Maria Cristina Gotianun, SMPC president and chief operating officer, at the company’s virtual annual stockholders meeting on Monday.
The company did not identify the NGCP project which is needed for the power plant to be viable.
The San Raphael power plant is originally eyed to be a 350×2 MW coal-fired power plant under SRPGC, a partnership between SMPC and Manila Electric Co. subsidiary, Meralco PowerGen Corp.
However, in 2020, the parties agreed to terminate the joint venture. SMPC then signed a deed of assignment to fully acquire the project.
Earlier, SMPC announced plans to further expand its power generation business, including a possible investment in liquefied natural gas (LNG).
“We are conducting ongoing studies to assess its viability, capital requirements and the price volatility of natural gas,” Gotianun said.
SMPC is the only vertically-integrated power producer in the country that mines its own fuel source, allowing it to generate affordable baseload power.
