The tough talking President of the Republic of the Philippines, Pres. Rodrigo Roa Duterte led the inauguration of the newly completed 420-megawatt Pagbilao Unit 3 project coal-fired power plant here that is expected to stabilize energy supply in Luzon as well as boost the economy.
Pres. Duterte in his speech expressed gratitude to the Department of Energy and Aboitiz Power Corp. for working together to make the Pagbilao energy venture possible.
The President was quoted as saying "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.
Pres. Duterte added further that "Without doubt, this joint venture between Aboitiz and [TeaM] 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.
Employment and business opportunities will be open to all the residents of Quezon Province after the opening of the Pagbilao Unit 3 Plant. Pres. Duterte stressed that the distribution of reliable and affordabale electricity would complement government programs paving the way to national development.
The President also encouraged private energy producers to find viable solutions that will deliver reliable and inexpensive electricity to homes and industries.
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. The project is 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.
The Pagbilao Energy Corp. signed an agreement to finance the construction the Pagbilao Unit 3, securing a total of P33 billion debt financing from various lenders.
Watch the Speech of Pres. Duterte During the Inauguration of Pagbilao Power Plant:
Source: PNA
Pres. Duterte in his speech expressed gratitude to the Department of Energy and Aboitiz Power Corp. for working together to make the Pagbilao energy venture possible.
The President was quoted as saying "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.
Pres. Duterte added further that "Without doubt, this joint venture between Aboitiz and [TeaM] 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.
Employment and business opportunities will be open to all the residents of Quezon Province after the opening of the Pagbilao Unit 3 Plant. Pres. Duterte stressed that the distribution of reliable and affordabale electricity would complement government programs paving the way to national development.
The President also encouraged private energy producers to find viable solutions that will deliver reliable and inexpensive electricity to homes and industries.
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. The project is 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.
The Pagbilao Energy Corp. signed an agreement to finance the construction the Pagbilao Unit 3, securing a total of P33 billion debt financing from various lenders.
Watch the Speech of Pres. Duterte During the Inauguration of Pagbilao Power Plant:
Source: PNA
Pres. Dutete Leads the Inauguration of the 420-Megawatt Pagbilao Coal-Fired Power Plant
Reviewed by Phil Newsome
on
June 01, 2018
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Reviewed by Phil Newsome
on
June 01, 2018
Rating:
