Panay power station
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Panay power station is an operating power station of at least 314-megawatts (MW) in Ingore, Iloilo, Western Visayas, Philippines. It is also known as Iloilo City Pedc power station.
Location
Table 1: Project-level location details
| Plant name | Location | Coordinates (WGS 84) |
|---|---|---|
| Panay power station | Ingore, Iloilo, Iloilo, Western Visayas, Philippines | 10.72444, 122.59582 (exact) |
The map below shows the exact location of the power station.
Unit-level coordinates (WGS 84):
- Unit 1, Unit 2, Unit 3: 10.72444, 122.59582
Project Details
Table 2: Unit-level details
| Unit name | Status | Fuel(s) | Capacity (MW) | Technology | Start year | Retired year |
|---|---|---|---|---|---|---|
| Unit 1 | operating | coal - unknown | 82 | subcritical | 2010 | – |
| Unit 2 | operating | coal - unknown | 82 | subcritical | 2011 | – |
| Unit 3 | operating | coal - unknown | 150 | circulating fluidized bed | 2016 | – |
Table 3: Unit-level ownership and operator details
| Unit name | Owner |
|---|---|
| Unit 1 | Panay Energy Development Corp (PEDC) [100.0%] |
| Unit 2 | Panay Energy Development Corp (PEDC) [100.0%] |
| Unit 3 | Panay Energy Development Corp (PEDC) [100.0%] |
Background on Units 1 & 2
The first two units, each 82 MW, of the Panay power station were completed in 2010 and 2011. The facility is owned by Panay Energy Development Corp. (PEDC), a subsidiary of Global Business Power Corp of GT Capital Holdings, in Iloilo City, the Philippines. The plant was completed in 2010-11.[1]
Financing for unit 3
2015: US$246.33 million in loans was provided by First Metro Investment Corporation, Bank of the Philippine Islands, China Banking Corporation, Land Bank of the Philippines, Philippine American Life and General Insurance Company, Philippine National Bank and Rizal Commercial Banking Corporation. US$89.59 million in equity was provided by Global Business Power Corp.[2]
In 2017, the Philippine Movement for Climate Justice lodged a formal complaint against the International Finance Corporation (IFC) for its involvement in Philippine coal-fired power stations. The complaint alleged that the IFC had funded these projects through its financial support to Rizal Commercial Banking Corporation (RCBC). The Panay power station was one of 11 power stations for which the IFC's involvement was found to be sufficient to trigger the IFC's internal accountability process.[3]
Meralco Acquisition
In December of 2020, Meralco PowerGen Corp. announced that it had purchased full ownership of Global Business Power Corp. (GBPC), the parent company of Panay Energy Development Corporation, for P34.466 billion (approx. 720 million USD). Meralco paid that sum to acquire an 86% stake in the company; Meralco already owned a 14% stake in GBPC. Meralco said the purchase price would be paid in installments: 60 percent at closing, 20 percent six months after and the remaining 20 percent after 18 months.[4]
Environmental Impact
In August 2017 the Department of Environment and Natural Resources (DENR) announced that it would sign a Memorandum of Understanding (MOU) with Panay Energy Development Corporation (PEDC) to monitor the health of people living near the plant, some of whom were reportedly suffering from scabies and lung diseases.[5]
Articles and Resources
References
- ↑ "Coal-Fired Power Plants in the Philippines," Industcards, accessed Jan 2016
- ↑ "Preview of Panay Island Coal-Fired Power Plant Expansion (150MW) | Transaction | IJGlobal". ijglobal.com. Retrieved 2020-11-24.
- ↑ CAO ASSESSMENT REPORT Regarding Concerns in Relation to IFC’s Investment in Rizal Commercial Banking Corporation (RCBC) – 01 (#30235, #32853, #34115, #37489) in the Philippines, IFC Compliance Advisor Ombudsman, April 2019
- ↑ Alena Mae S. Flores, Meralco says sale price of GBPC is fair, reasonable, Manila Standard, Dec. 28, 2020
- ↑ Coal plants in Iloilo emit toxic pollutants?, IMT News, Aug. 21, 2017
Additional data
To access additional data, including an interactive map of coal-fired power stations, a downloadable dataset, and summary data, please visit the Global Coal Plant Tracker on the Global Energy Monitor website.
