First Gen – San Gabriel Combined-Cycle Natural Gas-Fired Power Plant 1311 MW – Batangas
First Gen Corporation (First Gen), through its wholly-owned subsidiary, First NatGas Power Corp., is undertaking the San Gabriel combined-cycle natural gas-fired power plant in the Philippines.The project involves the construction of a natural gas-fired power plant with a capacity of 1,311MW. The project is planned to be implemented in three phases. It includes the construction of substations, and powerhouses, the installation of generators, transformers and turbines, and the laying of transmission lines.First Phase: It includes the construction of a 97MW power plant with a total expenditure of US$150 million. This phase is also called as 'Avion' power plant.Second Phase: It includes the construction of a 414MW power plant with a cost of US$600 million.Third Phase: It includes the construction of an 800MW power plant comprising two units of 400MW each.The project secured environmental approval in 2005.In October 2012, First Gen signed a 10-year loan agreement with Bank of the Philippine Islands, BDO Unibank Inc., Philippine National Bank, Rizal Commercial Banking Corp., Security Bank Corp., The Hong Kong and Shanghai Banking Corp., and Union Bank of the Philippines for the funding of the project.On December 16, 2013, Siemens Group was awarded a turnkey contract of worth US$543 million for the second phase of the project. The project will utilize Siemens’s SGT6-8000H gas turbine technology. Under the terms, Siemens, AG will supply the equipment, will provide engineering, design, procurement and construction services, and also undertake the operation and maintenance of unit for 9.5 years.On January 14, 2014, a groundbreaking ceremony was held on the second phase.In July 2014, First Gen secured US$265 million loan from KfW IPEX-Bank for the second phase of the proposed project.In August 2014, Slovakian firm, Istroenergo Group A.s. (IEG) was appointed as engineering, procurement, and construction (EPC) contractor for the first phase.In April 2016, construction activities on the first and second phase completed.
Scope
The project involves the construction of a natural gas-fired power plant with a capacity of 1,311MW at San Gabriel in Batangas, the Philippines. The US$1,800 million project includes the following:1. Construction of a 97MW power plant under first phase2. Construction of a 414MW power plant under second phase3. Construction of a 2x400MW power plant under third phase
Key Highlights
First Gen Corporation (First Gen), through its wholly-owned subsidiary, First NatGas Power Corp., is undertaking the San Gabriel combined-cycle natural gas-fired power plant in the Philippines.The project involves the construction of a natural gas-fired power plant with a capacity of 1,311MW. The project is planned to be implemented in three phases. It includes the construction of substations, and powerhouses, the installation of generators, transformers and turbines, and the laying of transmission lines.First Phase: It includes the construction of a 97MW power plant with a total expenditure of US$150 million. This phase is also called as 'Avion' power plant.Second Phase: It includes the construction of a 414MW power plant with a cost of US$600 million.Third Phase: It includes the construction of an 800MW power plant comprising two units of 400MW each.The project secured environmental approval in 2005.In October 2012, First Gen signed a 10-year loan agreement with Bank of the Philippine Islands, BDO Unibank Inc., Philippine National Bank, Rizal Commercial Banking Corp., Security Bank Corp., The Hong Kong and Shanghai Banking Corp., and Union Bank of the Philippines for the funding of the project.On December 16, 2013, Siemens Group was awarded a turnkey contract of worth US$543 million for the second phase of the project. The project will utilize Siemens’s SGT6-8000H gas turbine technology. Under the terms, Siemens, AG will supply the equipment, will provide engineering, design, procurement and construction services, and also undertake the operation and maintenance of unit for 9.5 years.On January 14, 2014, a groundbreaking ceremony was held on the second phase.In July 2014, First Gen secured US$265 million loan from KfW IPEX-Bank for the second phase of the proposed project.In August 2014, Slovakian firm, Istroenergo Group A.s. (IEG) was appointed as engineering, procurement, and construction (EPC) contractor for the first phase.In April 2016, construction activities on the first and second phase completed.
Reasons to Buy
First Gen Corporation (First Gen), through its wholly-owned subsidiary, First NatGas Power Corp., is undertaking the San Gabriel combined-cycle natural gas-fired power plant in the Philippines.The project involves the construction of a natural gas-fired power plant with a capacity of 1,311MW. The project is planned to be implemented in three phases. It includes the construction of substations, and powerhouses, the installation of generators, transformers and turbines, and the laying of transmission lines.First Phase: It includes the construction of a 97MW power plant with a total expenditure of US$150 million. This phase is also called as 'Avion' power plant.Second Phase: It includes the construction of a 414MW power plant with a cost of US$600 million.Third Phase: It includes the construction of an 800MW power plant comprising two units of 400MW each.The project secured environmental approval in 2005.In October 2012, First Gen signed a 10-year loan agreement with Bank of the Philippine Islands, BDO Unibank Inc., Philippine National Bank, Rizal Commercial Banking Corp., Security Bank Corp., The Hong Kong and Shanghai Banking Corp., and Union Bank of the Philippines for the funding of the project.On December 16, 2013, Siemens Group was awarded a turnkey contract of worth US$543 million for the second phase of the project. The project will utilize Siemens’s SGT6-8000H gas turbine technology. Under the terms, Siemens, AG will supply the equipment, will provide engineering, design, procurement and construction services, and also undertake the operation and maintenance of unit for 9.5 years.On January 14, 2014, a groundbreaking ceremony was held on the second phase.In July 2014, First Gen secured US$265 million loan from KfW IPEX-Bank for the second phase of the proposed project.In August 2014, Slovakian firm, Istroenergo Group A.s. (IEG) was appointed as engineering, procurement, and construction (EPC) contractor for the first phase.In April 2016, construction activities on the first and second phase completed.
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