Designed to sell electricity to the Luzon grid, the plant is expected to start commercial operation in 2016.
First Gen Chairman and CEO Federico Lopez said the 414MW of San Gabriel is just the first of three such additional plants planned for the site.
”Our vision is to build an additional 1,342 megawatts between now and 2019 right here around where we laid the first spade today. That will bring our total capacity of LNG-fired plants to more than 3,000 megawatts by then,” Lopez added.
The first unit will initially utilize Malampaya gas, and will change to regasified liquefied natural gas along with the other two additional planned units in future.
FNPC had awarded an equipment supply contract to Siemens AG and a construction services contract to Siemens Inc. for the engineering, design, procurement, construction and completion of the plant in December 2013.
The San Gabriel Project is intended to be financed through an export credit agency-covered loan and the proceeds of the company’s recent US0-million Reg-S bond offering.
