Mariveles Power Plant
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The Mariveles Power Plant is a 690-megawatt (MW) coal-fired power station on the Bataan Peninsula, on the island of Luzon in the Philippines, owned by GNPower.[1]
An additional 1,336 MW has been proposed at the same location. The expansion later became referred to as a separate plant, the Dinginin power station.
Location
The map below shows the location of the plant, in Alas-asin Barangay, Mariveles Municipality, Bataan Province.
Background
Mariveles Power Plant is a two-unit, 690-megawatt (MW) coal-fired power station on the Bataan Peninsula, on the island of Luzon in the Philippines, owned by GNPower. The project consists of two 345 MW units using subcritical boilers. The plant went online in April 2013.[2]
Ownership
The plant's owner, GNPower Mariveles Coal Plant Ltd., is jointly owned by U.S. company Sithe Global Power (owned by the Blackstone Group) and the Philippine Ayala Corporation; Ayala acquired a 17.1 percent state in the project for $155 million in December 2012.[3][4]
In October 2016, the Philippines' Aboitiz Power acquired stakes held by Blackstone Group LP for US$1.2 billion.The acquisition involves a 66.1 percent indirect interest in both the Mariveles plant and its expansion.[5] In May 2019, Aboitiz acquired Ayala's shared of the project, giving it a total ownership stake of 78.3%.[6]
Description of Expansion
In 2013, plant owner GNPower said it planned to expand the power station. For more information, see Dinginin power station.
Financing
In January 2010, China Development Bank provided a US$493 million direct loan for the project, which the China Export and Credit Insurance Corporation guaranteed. Citigroup, BDO Unibank, and Standard Chartered Bank provided an additional US$227 million in loans. Denham Capital Management, PMR Holding Corporation, Power Partners, and Sithe Global Power provided US$280 million in equity. Total financing amounted to just over US$1 billion.[7]
Project Details
- Sponsor: GNPower Mariveles Coal Plant Ltd. Co[8]
- Parent companies: Aboitiz Group (78.3%), Sithe Global (21.7%)[6]
- Location: Alas-asin Barangay, Mariveles Municipality, Bataan Province, Luzon, Philippines
- Coordinates: 14.4251672, 120.5370176 (exact)[9]
- Status: Operating
- Nameplate capacity: 2 x 345 MW
- Type: Subcritical
- In service: 2013
- Coal Type:
- Coal Source:
- Estimated annual CO2:
- Source of financing: US$720 million in debt from Citigroup, Standard Chartered Bank, BDO Unibank, and China Development Bank, US$280 million in equity from Denham Capital Management, Power Partners, Sithe Global Power, and PMR Holding Corporation[7]
Articles and resources
References
- ↑ List of Existing Power Plants, Philippine Department of Energy, Dec. 31, 2020
- ↑ "Sithe Global" Mariveles Station, accessed December 10, 2013.
- ↑ Doris C. Dumlao, "Ayala Corp. acquires stake in Mariveles coal-fired power plant," Philippine Daily Inquirer, December 17, 2012
- ↑ "Sithe Global" Mariveles Station, accessed December 10, 2013.
- ↑ "Philippines' AboitizPower to buy power plant stakes for $1.2 bln," Reuters, Oct 4, 2016
- ↑ 6.0 6.1 AboitizPower completes acquisition of AC Energy, May 3, 2019
- ↑ 7.0 7.1 "GNPower Mariveles: Chinese lenders abroad," IJ Global, 11-04-2011
- ↑ "Approved Coal Plants in the last two years," Greenpeace, accessed December 2013
- ↑ "GN Coal Power Plant, Alasasin, Mariveles, Bataan," Wikimapia, accessed December 2013
