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MANILA – The power subsidiary of GT Capital Holdings Inc. plans to expand its portfolio in the Visayas and Mindanao amid growth prospects in these areas.
Arthur N. Aguilar, Global Business Power Corp. president, said the company is looking into the viability of another coal plant in Panay Island, where the outsourcing, real estate and tourism industries are expanding.
"Power consumption in Iloilo City has gone up considerably so we’re looking into the projections of growth in the next three to four years and we’ll study the possibility of putting up the third plant there," Aguilar said.
GBPC, through subsidiary Panay Energy Development Corp., operates two 82-megawatt coal plants Western Visayas.
Aguilar said building a new facility will take two to three years, or in time for the projected increase in demand.
Based on Department of Energy estimates, the Visayas grid would need additional capacity by 2015 because of a projected growth in demand.
In Cebu, another subsidiary, Toledo Power Co., will put up a new coal plant to serve the needs of Atlas Consolidated Mining and Development Corp., which indicated plans to expand its operations.
Atlas unit Carmen Copper Corp. is ramping up production amid strong demand from China.
Aguilar said the facility would be put up beside the three 82-megawatt coal plants operated by Cebu Energy Development Corp., a joint venture with Aboitiz Power Corp., Vivant Energy Corp., and Formosa Heavy Industries Corp. of Taiwan.
Besides the Visayas, GBPC is also interested in putting up power facilities in Mindanao.
"Since Mindanao is power deficient and we are a power firm, it is an area of interest to us," Aguilar said.
Should it decide to put up one in the region, the company would again opt for a coal-fired power plant because of the region's reliance on intermittent generation from hydro plants for its 24/7 electricity requirements.
Mindanao's dependence on such facilities have been blamed for its unreliable power supply especially during dry spells and times when demand is high.
"There’s still a need for 300 or 400 for the next three years depending on how much water they get on the hydro plants," Aguilar said.
GT Capital is the holding firm of George Ty that also controls Metropolitan Bank and Trust Co., AXA Life Insurance Corp., Toyota Motor Philippines Corp. and Federal Land Inc.
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