SMC capex for power at P134B

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SMC Global Power said its authorized but not yet disbursed capital projects amount to P134.75 billion as of the first half of 2022.

The amount decreased by almost 4 percent from the P139.99 billion announced by the company for the first quarter of the year, and over 37 percent lower from P214.8 billion at the end of 2021.

In a disclosure to the Philippine Dealing and Exchange Corp., SMC Global Power said the amount is not necessarily going to be spent only in a single year.

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At present, its plans are still geared toward the construction of power plants utilizing high efficiency low emission technologies as well as those using liquefied natural gas and battery energy storage systems (BESS), the company added.

It said funds to be used for these projects will come from available cash and proceeds from outstanding long-term loans and issued senior perpetual capital securities.

SMC Global Power said among the specific projects that are still in the pipeline are BESS projects with a total capacity of 1,000 megawatts which are expected to go into commercial operations by next year. – Jed Macapagal

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