Bilyonaryo Ramon S. Ang-led SMC Global Power Holdings Corp., plans to put up a 300 megawatt LNG combined cycle power plant in San Carlos City, Negros Occidental.
The power plant, located within the San Carlos City Ecozone, is being developed by Reliance Energy Development Inc. (REDI), a wholly owned subsidiary of SMC Global Power.
It is estimated to cost about P18.5 billion.
The project is seen to augment the country’s growing power needs and is targeted for completion by the third quarter of 2024.
SMC Global Power owns a diversified portfolio of power assets including coal, natural gas, and hydroelectric plants.
The San Miguel Group is also pursuing battery energy storage system projects around the country.
Ultra bilyonaryo Ricky Razon’s Apex Mining is poised to expand its mining operations in Maco, Davao de Oro with the acquisition of a mining firm with interests there.