PAGBILAO, Quezon -- President Rodrigo R. Duterte on Thursday led the inauguration of the newly-completed 430-megawatt Pagbilao Unit 3 power project, a coal-fired power plant in Barangay Ibabang Pulo in this town.
"The completion of this project establishes Pagbilao Energy Corporation's (PEC) partnership with the government in pushing the nation's progress through a cost-effective and reliable power plant that complies with environmental standards," PEC chairman Antonio Moraza said.
PEC is a joint venture between TPEC Holdings Corporation and Therma Power Inc., a subsidiary owned by Team Energy Corporation (TEC) and Aboitiz Power (AP), respectively.
PEC President John Alcordo said they view the project as an investment for the country's future.
"This will light up homes and industries, give comfort to families, enable productivity and help create employment for Filipinos," Alcordo added.
The newly-built power facility, worth USD976 million, is constructed in December 2014. It is located in the same complex adjacent to units 1 and 2 of the Pagbilao Power Station operated by TEC, where the two units have a generating capacity of 735 megawatts.
Joining the President at the power plant’s inauguration were Energy Secretary Alfonso Cusi, Quezon provincial councilors, Japanese Ambassador Koji Haneda, and Sabin and Erramon Aboitiz from Aboitiz Power Corp.