POWER October 2011 - 40

TOP PLANTS
Masinloc Power Plant,
Zambales Province, Philippines
Owner/operator: AES Corp.
In April 2008, AES Philippines purchased the Masinloc coal-fired power plant in
Zambales Province in the Luzon region. Originally constructed in 1998 as a twounit,
600-MW plant, the facility uses coal from a variety of sources in the Pacific
Rim. After AES finished overhauling much of its equipment, the expanded 660MW
(gross) plant's availability increased from 48% to 74%, which enabled net
electricity production to jump by 129% by 2010.
By Angela Neville, JD
Courtesy: AES Corp.
T
40
hough somewhat off the beaten path in
Southeast Asia, the Philippines is the
second-largest archipelago in the world
and includes a string of more than 7,000
tropical islands located in the western Pacific
Ocean. With an economy based on an expanding
industrial base and a wide range of
agricultural products, the country is increasingly
attracting foreign investors.
In 2008, AES Corp. (AES) purchased the
600-MW (gross) Masinloc coal-fired power
plant from the Republic of Philippines' Power
Sector Assets and Liabilities Management
Corp. (PSALM) for $930 million. AES's acquisition
is one example of a foreign company
making a significant long-term major investment
in the country's infrastructure. Masinloc
is the Philippines' first privatized thermal
plant (Figure 1). In addition, last year AES
announced that it has begun developing an
expansion project, Masinloc II, which would
add an another 660 MW and represent an infrastructure
investment of up to $800 million.
The Philippine Power Industry
The Philippines has a population of more than
94 million (2010 estimate) and continues to
face important challenges related to sustaining
its growing economy. Its government has
prioritized the need to improve employment
www.powermag.com
opportunities, alleviate poverty, and increase
its production of safe and reliable electricity.
After emerging from a crippling power crisis
that occurred in the early 1990s, the Philippine
government embarked on an industry
privatization and restructuring program to
ensure an adequate supply of electricity to
energize its developing economy. This restructuring
scheme is embodied in Republic
Act No. 9136, the Electric Power Industry
Reform Act (EPIRA).
Enacted on June 8, 2001, EPIRA seeks to
ensure a reliable, secure, and affordable electric
power supply; encourage free and fair
competition; enhance the inflow of private
POWER | October 2011

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POWER October 2011

Table of Contents for the Digital Edition of POWER October 2011

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POWER October 2011 - Cover1
POWER October 2011 - Cover2
POWER October 2011 - Contents
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