SPC Power plans 300-MW plant
SPC Power Corp. has created a new subsidiary, Cebu Naga Power Corp., that will put up a 300-megawatt power plant in Naga City, Cebu.
SPC said in a disclosure to the stock exchange its board approved the creation of the wholly-owned subsidiary.
“The board approved, ratified and confirmed the action of the executive committee to establish a wholly-owned subsidiary, Cebu Naga Power Corp. to undertake the development, ownership, construction, operation and management of the new 2 x 150-MW CFBC coal-fired power plant,” it said.
The plant will be built on the present site of the coal fired thermal power plant 1 and 2 in Colon, Naga City.
SPC Power together with Kepco Philippines earlier studied the possibility of putting up a new 300-MW power plant within its Naga power facility in Cebu to help improve the power supply situation in the Visayas.