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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Energy World Corporation Ltd.    EWC   AU000000EWC5

ENERGY WORLD CORPORATION LTD. (EWC)
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Energy World : Pagbilao gas-fired plant builder gets ERC approval

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11/10/2017 | 05:20pm CEST

ENERGY World Power Operations Philippines Inc. (Ewpopi), a wholly owned subsidiary of Energy World Corp. Ltd., has secured the go-ahead of the regulators to develop a transmission facility that will connect its 650-megawatt (MW) gas plant to the planned Pagbilao substation of the National Grid Corp. of the Philippines (NGCP).

In a 24-page decision, the Energy Regulatory Commission (ERC) authorized Ewpopi to develop and own a point-to-point limited facility to connect its combined cycle natural gas-fired power plant to the Luzon grid provided that the NGCP will maintain and operate the said facilty. The Ewpopi shall develop the facility in accordance with the System Impact Study and Facility Study requirements. The said center shall be used solely by the generating facility.

The proposed transmission facility is estimated to cost P694,389,591.42.

The Ewpopi is constructing the gas plant in Pagbilao, Quezon Province. According to the Ewpopi, it has the financial capability to undertake the development of the project.

To dispatch the power to be generated from the plant, the Ewpopi needs to construct a dedicated point-to-point transmission facility to connect the plant to NGCP's Pagbilao substation which has yet to be constructed.

Since this is the case, the ERC also approved that the proposed project shall be constructed through an interim connection that consists of cutting-in along Naga-Tayabas 500 kiloVolt (kV) line, which is presently energized at 230 kV. The interim connection will be utilized until the new Pagbilao substation is completed.

It has also secured a permit from the Department of Energy to construct a liquefied natural gas hub and regassification facility.

(c) 2017 Business Mirror Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Stewart William George Elliott Chairman, Chief Executive Officer & MD
Brian Jeffrey Allen Executive Director & Finance Director
Leslie James Charles Independent Non-Executive Director
Ian William Jordan Secretary & Executive Director
Michael Phillip O'Neill Independent Non-Executive Director
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