SMC takes Sual coal plant control
‘Over the past year, we’ve worked closely with NPC, PSALM, and SPI to ensure a seamless transition’
‘Over the past year, we’ve worked closely with NPC, PSALM, and SPI to ensure a seamless transition’
The 1,200-megawatt (MW) Sual Coal-Fired Thermal Power Plant (CFTPP), the country’s largest coal-fired facility, has shifted to national government control through the Power Sector Assets and Liabilities Management Corp. (PSALM), concluding its three-decade cooperation agreement.
TeaM Energy announced over the weekend that it successfully transferred ownership of the CFTPP to PSALM, marking the end of its operational period under the Sual Independent Power Producer contract, which began in May 1994.
Originally developed under a Build-Operate-Transfer (BOT) agreement with the National Power Corp. (NPC), the plant returns to public hands.
However, immediately on the same day of the handover, PSALM transferred the Sual facility to Sual Power Inc. (SPI), a subsidiary of San Miguel Global Power (SMGP), allowing SPI to assume ownership.
IPP deal
SPI, previously the Independent Power Producer Administrator (IPPA) for the plant under an agreement with PSALM, now takes full control following the expiration of its administration agreement.
“Over the past year, we’ve worked closely with NPC, PSALM, and SPI to ensure a seamless transition. The plant is now in excellent condition, ready to continue generating electricity for the Luzon grid,” said TeaM Energy officer-in-Charge Mitsuhiro Kojima.
“For more than 25 years, the Sual Power Station has generated reliable, cost-effective energy, powering homes, factories, offices, schools, and hospitals across the Philippines.”
Located in Sual, Pangasinan, the 1,200-MW coal-fired facility with its two 600-MW generating units is among the largest in the country.
Since its establishment, it has contributed significantly to Sual’s transformation from a fifth-class municipality in 1994 into a progressive first-class municipality today.
Meanwhile, TeaM Energy will continue operating the 735-MW Pagbilao Power Station in Quezon Province, where it holds a 50 percent stake in the 420-MW Pagbilao Unit 3 Power Project.
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