Power plants in Coron, Busuanga to open in 2014
MANILA, Philippines – Power generation plants in Coron and Busuanga in Palawan are set to open in 2014 to address the growing electricity needs in the tourist areas.
An 8-megawatt bunker-fired power plant is expected to begin commercial operation in Coron while a 750 kilowatt diesel-fired plant will open in Busuanga next year.
The construction of the two power plants began on April 2013 under a 15-year Power Sale Agreement between the Busuanga Island Electric Cooperative (BISELCO) and the Calamian Islands Power Corporation (CIPC).
CIPC, a joint venture of Vivant Energy Corporation (VEC) and Gigawatt Power, Inc., obtained a P430 million project financing facility through a 10-year Term Loan Agreement with Metrobank to fund the construction.