Enex Energy, a subsidiary of the Philippine company Acen, will begin the construction of a 1.1 GW CCGT power plant in Batangas, on the island of Luzon (northern Philippines), in August 2023. The power plant, estimated to require an investment of PHP60bn (US$1.1bn), is expected to start commercial operations by the second half of 2026.
The project, under the entity called Batangas Clean Energy, is a 50:50 joint venture between Enex Energy and Gen X Energy, a subsidiary of the US-based private equity firm Blackstone. Once operational, the plant is estimated to be able to satisfy between 5% and 10% of the Luzon power grid’s needs.
At the end of 2021, gas-fired power plants represented 13% of the Philippines’ installed capacity with 3.5 GW. In 2020 it represented 19% of its power generation with 19.5 TWh (2020).
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