PCPC signs supply deal with Pevensey
Tuesday, March 12 2013 - 03:43 AM WIB
Phillipines-based firm PALM Concepcion Power Corp. (PCPC) has recently signed coal supply agreement with PT Pevensey Indonesia to supply coal for PALM's 135-megawatt clean coal-fired power plant in Iloilo, Philippines from its Arjuna mine in East Kalimantan.
The plant is to be constructed this year, the company said on Monday.
?We have almost completed the necessary technical and commercial agreements for this project and this move of signing the coal contract with PT Pevensey Indonesia secures the coal requirements of the power plant for the coming years beginning with the commercial operation of the plant,? said Roel Z. Castro, PCPC president.
The coal facility, which was launched on January 15 with a groundbreaking ceremony at the 30-hectare property in Barangay Nipa, Concepcion, Iloilo, will use the circulating fluidized bed combustion technology and is said to be one of the most advanced and most fuel-efficient plants in the Visayas.
The project is also partially financed by AC Energy Holdings Inc., Palm Thermal Consolidated Holdings Corp. (A Brown Co. Inc.) and Jin Navitas Resource, Inc.
Jakarta-based PT Pevensey Indonesia markets coal, iron ore, carbon products and currently supplies coal to power plants in China, India and the Philippines.
Editing by Er Audy Zandri