Friday, June 10, 2011
UNIT II, one of the four units acquired by AboitizPower
AboitizPower Corp., through its wholly owned subsidiary Therma Mobile, Inc., has acquired four units of the barge-mounted floating power plants moored at the Fishport Complex in Navotas City (Navotas Barges) on May 27, 2011. This deal with Duracom Mobile Power Corporation and East Asia Diesel Power Corporation is seen to help alleviate the electric power shortfall in Luzon.
The Navotas Barges are bunker C-fired diesel plants designed for peak load application, and will contribute to the region’s power supply needs. When fully operational, the barges will have an aggregate deliverable generating capacity of 242 MW. It is worthwhile to note that the units have not been operating for almost five years.
In the region, AboitizPower also has hydroelectric power plants up north in Ambuklao, Magat, Binga and Benguet. The company harnesses geothermal power from the Makiling-Banahaw and Tiwi areas in Laguna and Bicol, and administrates a coal-fired plant in Pagbilao, Quezon.
"We believe these assets have a strategic value for AboitizPower’s generation portfolio. The power barges' mobility and quick-start capability help complete the balanced mix we are trying to create,”
said AboitizPower President and CEO Erramon Aboitiz.
A power barge is essentially a floating power plant that can be towed to and moored in different areas. Transfers, however, require meticulous preparations and permits from various agencies and AboitizPower has no immediate plans to relocate the units. AboitizPower’s priority is to have the units rehabilitated so they are able to deliver prime output. It foresees completion of rehabilitation by December 2011, and for the barges to start generating power within the first half of 2012. Therma Mobile will handle the operational needs of the Navotas Barges, and will be selling to the Wholesale Electricity Spot Market and offering ancillary services.
AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services. It is a major producer of Cleanergy, its brand for clean and renewable energy in the Philippines with several hydroelectric and geothermal assets in its generation portfolio and also has non-renewable power plants located across the country. The company owns distribution utilities that operate in high-growth areas in Luzon, Visayas and Mindanao. (For more details, please visit: www.aboitizpower.com