TeaM Energy Corporation recently held an appreciation event to mark the symbolic transfer of the Sual Power Station (SPS) to the Philippine government. During the ceremony, shareholder representatives handed over replicas of the power station to Dennis Edward A. Dela Serna, president and CEO of the Power Sector Assets and Liabilities Management Corporation (PSALM), and Fernando Martin Y. Roxas, president and CEO of the National Power Corporation (NPC).
Izumi Kai, president and CEO of JERA Asia, presented a replica to Mr. Dela Serna, while Moroo Shino, chief executive officer of Marubeni Asian Power Singapore, passed a similar replica to Mr. Roxas. Mitsuhiro Kojima, Officer in Charge at TeaM Energy, and Kazunobu Takijima, Chief Financial Officer at TeaM Energy, were also present on stage.
On October 25, 2024, TeaM Energy completed the transfer of the 1,200 MW Sual Power Station, located in Sual, Pangasinan, to PSALM. The plant was constructed under a 25-year Build-Operate-Transfer (BOT) agreement with the national government, represented by NPC. On the same day as the transfer, Sual Power Inc., a subsidiary of San Miguel Global Power (SMGP), received the facility from PSALM.
This event marks a significant milestone in the energy sector as it transitions ownership of one of the largest coal-fired power stations in the Philippines to government management. The successful transfer underscores TeaM Energy’s commitment to ensuring a smooth transition that supports ongoing energy needs in Luzon.
