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MANILA, Philippines – The group of taipan George Ty will build another coal-fired power plant in Iloilo middle of this year.
Panay Energy Development Corporation, a subsidiary of Ty-led Global Business Power Corporation, will put up a 150-megawatt coal-fired facility in the province that will begin commercial operations in July 2016.
Currently, the company has a 164-MW power plant in Barangay Ingore, La Paz, Iloilo City.
Global Power chairman Francisco Sebastian said their new plant will serve the needs of ongoing developments in Iloilo province.
Among these developments are the 75-hectare Iloilo Business Park of Megaworld Corporation, the 20-hectare Atria Park District of Ayala Land, the 20-hectare Gaisano Business Center, and the commercial and residential condominiums of Double Dragon Properties.
“Iloilo is bustling with a number of major business and property developments under construction,” Sebastian said.
He also said that their plant will support the power needs of neighboring tourism destination Boracay in Aklan. “New hotels are still being developed there, such as the P2-billion Crimson Resort and Spa Boracay of the Filinvest Group.”
Iloilo Business Club executive director Lea Lara stressed Iloilo needs stable power supply to attract more investors. – Rappler.com
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