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The $500 million San Lorenzo CCGT facility is now generating 500MW electrical power. It is located in Batangas City, along the Batangas Bay, around 100km from the Philippine capital Manila. The plant is adjacent to the Santa Rita Project. This strategic location allows it to share common facilities such as the tank farm and fuel jetty, thereby eliminating the need to duplicate various operational facilities. The power station uses a Siemens GUD.1S.3A model gas turbine, a steam turbine and a horizontal heat recovery boiler (HRSG) in each power generation unit. Two power generation units have a single-shaft configuration.
The project's cost is estimated to be $500 million inclusive of capital costs, working capital requirements, related pipeline financing, insurance and development costs. The finance was based on 75% debt and 25% equity structure. Cost reductions via pooling of operations, maintenance and other expenses are also achieved. The plant opened in Q4 2002.
In December 2003, the owners of the Santa Rita and San Lorenzo power stations and Meralco concluded a review of the Power Purchase Agreement (PPA) as mandated by the Electric Power Industry Reform Act. The owners and Meralco have cooperatively reviewed the PPA and incorporated a number of incentives intended to encourage increased plant utilisation and subsequent efficiency gains.
The $500 million San Lorenzo CCGT facility is now generating 500MW electrical power. It is located in Batangas City, along the Batangas Bay, around 100km from the Philippine capital Manila. The plant is adjacent to the Santa Rita Project. This strategic location allows it to share common facilities such as the tank farm and fuel jetty, thereby eliminating the need to duplicate various operational facilities. The power station uses a Siemens GUD.1S.3A model gas turbine, a steam turbine and a horizontal heat recovery boiler (HRSG) in each power generation unit. Two power generation units have a single-shaft configuration.
The project's cost is estimated to be $500 million inclusive of capital costs, working capital requirements, related pipeline financing, insurance and development costs. The finance was based on 75% debt and 25% equity structure. Cost reductions via pooling of operations, maintenance and other expenses are also achieved. The plant opened in Q4 2002.
In December 2003, the owners of the Santa Rita and San Lorenzo power stations and Meralco concluded a review of the Power Purchase Agreement (PPA) as mandated by the Electric Power Industry Reform Act. The owners and Meralco have cooperatively reviewed the PPA and incorporated a number of incentives intended to encourage increased plant utilisation and subsequent efficiency gains.
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