Ayala energy unit gets P7-B loan for Calaca plant expansion
MANILA, Philippines – Energy firm South Luzon Thermal Energy Corp. (SLTEC) obtained a P7-billion loan for the expansion of its Calaca power plant's capacity to 270 megawatts (MW) from 135 MW.
In a disclosure to the Philippine Stock Exchange on Tuesday, July 2, Ayala-led AC Energy Holdings Inc., which partly owns SLTEC, said the unit signed a loan agreement with BDO Unibank Inc., Security Bank Corp., and Rizal Commercial Banking Corp.
"(The loan is for) the construction and operation of a 135-MW Circulating Fluidized Bed power plant in Calaca, Batangas," the company said in the disclosure.
The 135-MW facility is the second phase of the firm's Calaca Thermal Power Plant project. It is expected to be completed by 2016.
The new capacity will beef up Luzon's energy supply as demand in the grid may increase to around 10,600 MW by 2020.
SLTEC is a joint venture between AC Energy and Phinma-led Trans-Asia Oil and Energy Development Corp. – Rappler.com