THE energy regulator has given the green light for a unit of Ayala-led AC Energy Corp. to connect its 300-megawatt (MW) modular diesel power plant in Rizal province to the Luzon grid.
In a decision posted on its website, the Energy Regulatory Commission (ERC) said that it had approved the application of Ingrid Power Holdings, Inc. to develop and own a dedicated transmission facility.
The transmission project will link the diesel plant to the grid by connecting to the 230-kiloVolt (kV) Malaya substation operated by National Grid Corp. of the Philippines.
However, the commission said that the grid operator will be in charge of operating and maintaining the facility to keep the reliability of the power grid.
In its ruling, the ERC said that Ingrid Power had spent P902.25 million for the transmission project, which covered Phase 1 of the Ingrid substation, Phase 1 of the Malaya substation, project management costs, and import fees, based on figures taken in November 2020.
Energy generated from Ingrid Power’s 300-MW plant is intended to serve as a source of reserves for the Luzon grid, according to the ERC. Project development for the plant is scheduled in two phases, with installations of 150 MW each.
The regulator also required the firm to pay permit fees of P6.77 million in line with the Commonwealth Act No. 146, and the commission’s revised fees and charges.
The commission’s decision, which was posted on its website on June 21, was signed by Chairperson and Chief Executive Officer Agnes VST Devanadera and four other commissioners.
Shares of Ingrid Power’s parent firm AC Energy inched up by 0.24% or two centavos to close at P8.47 apiece on Monday. — Angelica Y. Yang