First Gen Corporation, through its wholly-owned subsidiary First NatGas Power Corp. (FNPC), signed an equipment supply contract and a construction services contract with Siemens. In a disclosure to the Philippine Stock Exchange, First Gen said the contracts will involve the engineering, design, procurement, construc
First Gen Corporation, through its wholly-owned subsidiary First NatGas Power Corp. (FNPC), signed an equipment supply contract and a construction services contract with Siemens.
In a disclosure to the Philippine Stock Exchange, First Gen said the contracts will involve the engineering, design, procurement, construction, and completion of a 414-megawatt power plant in Santa Rita, Batangas.
The power plant, called the San Gabriel Project, is the first of 3 units of the planned 1,350 megawatt San Gabriel Combined Cycle Natural Gas-Fired Power Plant Project.
The electricity to be generated by the $600 million-project will be sold in the Luzon grid.
FNPC also signed an operation and maintenance agreement with Siemens Power Operations Inc. Under the agreement, SPOI will operate and maintain the first unit of San Gabriel Combined Cycle Power Plant for 9.5 years.
The San Gabriel Project will be located adjacent to the First Gen-owned 1,000 megawatt Santa Rita and 500 megawatt San Lorenzo Combined Cycle Natural Gas-Fired Power Plants.
First Gen chairman Federico Lopez said the signing for the project is a “milestone.”
“We are constructing much needed additional power generating capacity for the Luzon grid. Commercial operation of the first 3 units is expected to start by the second quarter of 2016. The San Gabriel Project will be using the latest Siemens technology that will make it the most efficient gas-fired plant in the country,” said Lopez.