Filinvest Development Corp. (FDC) is planning to build four liquefied-natural-gas power plants with a total capacity of 1,650 megawatts.
Domestic electricity demand is seen growing as the Southeast Asian economy expands, with the government aiming to maintain annual economic growth at rates of 7% to 8% out to 2016.
Other companies plan to develop their power generating capacity or diversify into power:
- Ayala Corp. plans to build a portfolio of power plants with a total capacity of over 1,000 MW over the next five years, while San Miguel Corp., already the biggest power producer, is looking to add 3,000 MW to its capacity.
- Aboitiz Power Corp. is looking to double its generating capacity to more than 5,000 MW.
- Leading power retailer Manila Electric Co., which is controlled by conglomerate Metro Pacific Investments Corp. and partly owned by San Miguel, also wants to become a power producer and is looking to build power plants with a total capacity of 1,500 MW.