A BROWN Co. Inc. (ABCI) on Friday announced that one of its power generation units, Vires Energy Corp. (VEC), will no longer proceed with its plan to build a liquefied natural gas (LNG) terminal and regasification facility in Batangas.
A BROWN Co. Inc. on Friday announced that one of its power generation units, Vires Energy Corp. , will no longer proceed with its plan to build a liquefied natural gas terminal and regasification facility in Batangas.In a disclosure to the Philippine Stock Exchange on the same day, ABCI said it has informed the Department of Energy of VEC's withdrawal of a Notice to Proceed, issued in 2021, to build an LNG facility in Barangay Simlong, Batangas City.
'Moreover, this model will leverage existing gas infrastructure in the Batangas area to support the development of new power plants while shortening the time when power generation can happen, since VEC will no longer need to construct an LNG terminal.'The change in plan includes the predevelopment of two 450-megawatt LNG combined-cycle power plants.This will be constructed on a 15-hectare onshore site to replace the initially proposed floating power plant design.
Unit Revises Power Plant Plans
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