President Rodrigo Duterte led the inauguration of the newly completed 420-megawatt coal-fired Pagbilao Unit 3 power plant in Quezon province on May 31. The government expects the newly opened power plant to help stabilize energy supply in Luzon as well as boost the economy.
“This event reaffirms not only the government’s commitment to empower our citizens into proactive agents of social transformation, but also the private sector’s crucial role in augmenting our local industries,” Duterte said.
“Without doubt, this joint venture between Aboitiz and Energy has ensured energy sustainability that will allow us to support the electric demands of the country. Your multiple investments across the archipelago surely bolsters our efforts in advancing the country’s development,” he added.
The $976-million project is a joint venture between TPEC Holdings Corp. And Therma Power Inc., which are wholly owned subsidiaries of TeaM Energy Corp. (TEC) and Aboitiz Power, respectively.
Located near the Pagbilao Units 1 and 2, the construction works for the Pagbilao Unit 3 started in December 2014. The Pagbilao Units 1 and 2 have a total generating capacity of 735 megawatts.