' San Miguel unit eyes P215-b long-term power investments ' SMC Global Power Holdings Corp., a unit of conglomerate San Miguel Corp., is looking at capital expenditures of about P215 billion for long-term investment projects. Read more👇
“Amount authorized but not yet disbursed for capital projects is approximately P214,795 million [P214.795 billion] as of Dec. 31, 2021,” SMC Global said in a disclosure to Philippine Dealing & Exchange Corp. Monday.
It said the projects involved the construction of power plants, mostly utilizing high-efficiency low emission technologies, liquefied natural gas and battery energy storage system in line with its expansion projects and acquisition of fixed assets needed for normal operations of the business. SMC Global Power, together with its subsidiaries, associates and joint ventures, is one of the largest power companies in the country.
Based on the total installed generating capacities reported in the Energy Regulatory Commission Resolution on Grid Market Share Limitation, the company estimated that its combined installed capacity comprised about 20 percent of the national grid, 27 percent of the Luzon grid and 8 percent of the Mindanao grid as of end-2021.
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