SMC Global Power said its authorized but not yet disbursed capital projects have hit P214.8 billion as of end-2021.
In a document disclosed by the company at the Philippine Dealing and Exchange Corp., the company clarified the amount is not necessarily going to be spent only in a single year.
SMC Global Power plans to construct power plants mostly utilizing high efficiency low emission technologies, liquefied natural gas as well as battery energy storage systems as well as acquire fixed assets for normal operations of the business.
The company eyes to fund the projects from available cash and proceeds from outstanding long-term loans and certificate issuances.
The projects include the 1,313 megawatts (MW) Batangas combined cycle power plant and related assets as well as solar plants equipped with battery storage facilities in 10 locations throughout the country that are set to be operational by next year.