The Philippine independent power producer (IPP) AC Energy Holdings and Aboitiz Equity Ventures have reached financial close for the second unit of the Dinginin supercritical coal-fired project in Bataan (Philippines). The facility's total cost is estimated at around US$1.7bn, with the debt component to be provided by Philippine banks.
The power project will comprise two 668 MW units that will utilize an Alstom steam turbine generator. The first unit targets commercial operation by 2019 while the second unit is scheduled to come onstream in 2020. Once commissioned, it will support the increasing demand in the Luzon and Visayas islands.
The plant is owned by GNPower Dinginin (GNPD), a a joint venture of AC Energy Holdings (50%), Therma Power and Power Partners. AC Energy Holdings is owned by the Philippine group Ayala Corporation while Therma Power is an affiliate of Aboitiz Power Corporation.
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