(PHStocks) – To augment the tightening power supply in Mindanao next year, in anticipation of the effect of the summer months and the continuing increase in demand for power, AboitizPower (PSE: AP), through its wholly owned subsidiary Therma Marine Inc., plans to transfer one of its four barge-mounted power plant units from Navotas by June 2012.
“As Mindanao braces for a shortage of power, AboitizPower remains true to its commitment to the people of the island by providing a solution that will ensure that our economic progress will continue,” AboitizPower FVP-Mindanao Affairs Bobby Orig said.
The barges are bunker C-fired diesel plants designed for peak load application, and will contribute to the country’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. Upon their acquisition last May 2011, AboitizPower immediately implemented rehabilitation efforts on the barges, so that these will be able to deliver prime output.
AboitizPower intends to send one of the barges either to Nasipit, Agusan del Norte or Maco, Compostela Valley, where the company has docked 200-MW power barge facilities, operated by wholly owned subsidiary Therma Marine.
“By bringing in this facility, Mindanao is assured of continued supply of reliable and affordable power to fuel its economy and provide convenience to the people of Mindanao,” Orig added.
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.