SINGAPORE —
At a media briefing here on Tuesday, MGen president and CEO Emmanuel Rubio said four local banks and two Indonesian lenders have expressed interest in financing the construction of the 1,200-megawatt Atimonan plant in Quezon and the 80-MW Toledo project in Cebu.
Similar to facilities powered by natural gas and geothermal energy, coal plants are regarded as reliable sources of baseload power due to their capacity to operate continuously and provide uninterrupted supply of electricity.
Rubio estimated an investment of about $1.6 million for each MW of coal-fired power plants or $2 billion for the two facilities with a combined capacity of 1,280 MW. The two projects have secured environmental compliance certificates from the Department of Environment and Natural Resources.
This story is from the November 28, 2024 edition of The Philippine Star.
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This story is from the November 28, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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