The 735-megawatt Pagbilao Coal-Fired Thermal Power Plant in Quezon is now under the ownership of AboitizPower’s Therma Luzon Inc. (TLI) after TeaM Energy successfully turned over the facility to the government.

TeaM Energy has completed the turnover to the Power Sector Assets and Liabilities Management Corp. (PSALM) yesterday, ending the cooperation period under the 1991 independent power producer contract.

Turnover

“We successfully completed earlier this morning the turnover of the Pagbilao Power Station to PSALM and NPC,” TeaM Energy chairman and officer-in-charge Jun Sano said.

“These past years, we have been working closely with PSALM, NPC, and TLI to ensure a smooth transition process. Our efforts have been successful as the plant has been turned over in excellent condition, ready to continue generating the much-needed electricity for the Luzon grid,” he added.

Located in Pagbilao, Quezon, the coal-fired facility comprises two generating units, each with a capacity of 367.5 MW.

Ownership rights

Built under a build-operate-transfer scheme with the National Power Corp., the facility was turned over by PSALM to TLI on the same day, as its IPP administrator agreement ended, granting ownership rights.

TeaM Energy will keep its 50 percent stake in the adjacent 420-MW Pagbilao Unit 3 and continue operating its retail electricity supply business through TeaM Philippines Energy Corp.