Tuesday, June 3, 2014

SINGAPORE: PacificLight Power starts up S$1.2 billion power plant on Jurong Island

(EnergyAsia, June 4 2014, Wednesday) — PacificLight Power Pte Ltd, a company jointly owned by Filipino and Malaysian interests, has started up the first power plant in Singapore to be fired entirely by liquefied natural gas (LNG).

PacificLight Power, which is 70% owned by Manila-based FPM Power Holdings Ltd, invested S$1.2 billion in the state-of-the-art 800MW plant on a 11.3-hectare site on Jurong Island. (US$1=S$1.25). Petronas Power, a subsidiary of Malaysia's state energy firm Petronas, owns the remaining 30% stake.

The company said the plant accounts for 6.2% of the nation's installed power capacity and is capable of ramping up to operating capacity in 60 minutes, making it one of the most efficient and flexible power plants in Asia.  Its use of LNG will contribute to Singapore's plan to diversify its energy sources as well as decrease the nation's reliance on piped natural gas from Malaysia and Indonesia.

The plant, which was completed early this year, features the latest energy-efficiency F-class gas turbines from Siemens, which PacificLight says are designed to meet stringent international emissions standards.

A consortium comprising Germany's Siemens AG, Singapore-based Siemens Pte Ltd, and South Korea's Samsung C&T started work on the plant in 2011 shortly after it was awarded the engineering, procurement and construction contract for the project.

Chee Hong Tat, chief executive of Singapore's Energy Market Authority, officiated at the plant's opening ceremony yesterday that was attended by government officials, shareholders, industry representatives and business partners.

Yu Tat Ming, CEO of PacificLight Power, said:

"The launch of the plant is a momentous occasion for our organisation. This has been made possible due to the support received from the government agencies, our contractors, shareholders, customers, lenders and most importantly, our unwavering and dedicated team of staff. With our state-of-the-art power plant in place, we are committed to become the preferred energy solution provider in Singapore, offering tailored energy solutions and excellent customer service to our customers."

First Pacific managing director and CEO, Manuel V. Pangilinan, said:

"Today is a significant day for investors. We expect steady and growing demand for electricity in the coming years and PacificLight Power will be key to meeting that demand."

FPM Power Holdings Ltd is a 60:40 joint venture between two companies, First Pacific Company Ltd and MERALCO PowerGen Corp. First Pacific Company Ltd is a Hong Kong-based investment management and Holding Company with operations located across Asia while Meralco PowerGen Corp (MGen) is a wholly-owned subsidiary and the power generation arm of the Manila Electric Company (Meralco), the largest privately-owned distribution utility in the Philippines.

Pramod Kumar Karunakaran, Petronas's Vice President for Infrastructure & Utilities, Downstream Business, said:

"Petronas is pleased to see the successful completion of the state-of-the-art operating facility, which delivers clean energy to its customers. The project has enabled Petronas to build upon its existing capabilities and establish its presence in Singapore's merchant market."


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