Connect with us

Hi, what are you looking for?

Economy

SMC unit halts 1,500-MW ‘clean’ coal power plants

SMC Global Power Holdings Corp. has dropped a plan to develop “clean” coal power plants with a combined capacity of 1,500 megawatts (MW) as it shifts its focus towards adding more renewable energy (RE) in its portfolio, its parent firm said over the weekend.

The move comes a week after think tank Center for Energy, Ecology and Development sent to reporters a letter signed by an official of the Department of Energy that tagged as “discontinued” some of the projects of the San Miguel Corp. (SMC) unit.

“We’re executing on our plans to move away from building new coal facilities, despite new technologies that make them cleaner. It’s a company direction that is in line with all the major sustainability initiatives we have undertaken these past couple of years,” SMC President Ramon S. Ang said in an e-mailed statement on Saturday.

These projects are SMC Global Power’s proposed circulating fluidized bed coal-fired plants in Pagbilao and Sariaya, Quezon with capacity of 600 MW each, and the 300-MW Looc Malabuyoc coal-fired power plant in Cebu.

The Energy department letter was signed by Mario C. Marasigan, director at the Electric Power Industry Management Bureau.

In the statement, Mr. Ang said that SMC maintains a diverse power portfolio of RE and “traditional but proven” energy sources to ensure that it can shift to cleaner sources while meeting the demand for affordable and dependable power.

The parent firm said that SMC Global Power is spending more than $1 billion to build 31 new battery energy storage systems (BESS) with a rated capacity of 1,000 MW. They are scheduled to be completed by this year and next.

“The project will allow for the integration of over 3,000 MW of intermittent renewable power sources to the grid,” SMC said.

Mr. Ang added that SMC Global Power is also looking to build new solar plants “in combination with BESS facilities” in 10 areas across the country. They are targeted for commercial operations by 2023.

According to its website, SMC Global Power’s portfolio consists of a mix of coal, natural gas and hydroelectric plants with a total capacity of over 2,900 MW, accounting for 22% of supply in the Luzon grid. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Thailand’s Phuket will ban travel from the rest of the country from Aug. 3 to 16 to try to stop a surge in coronavirus...

Investing

More than 5 million people had a parcel lost or stolen last year, according to Citizens Advice, which has called on the government to...

Investing

The number of people on furlough fell below two million towards the end of June as the economic recovery gathered pace, official figures show....

Investing

Amazon signalled last night that its breakneck growth will slow over the coming months as people emerge from pandemic restrictions. Net sales at the...

Investing

Speculation that the chancellor will delay his budget until next year is mounting after he instructed the spending watchdog to publish new forecasts without...

Investing

A further 30 black students starting at Cambridge University will have their tuition and living costs covered thanks to a scholarship scheme started by...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!