Electricity Generating Public Company Limited or EGCO Group recently celebrated the start of construction of its San Buenaventura coal-fired power project in the Philippines following the completion of the financial closing for 42.15 billion Philippine Peso (approximately 32,000 million Baht) credit facility for the project. The groundbreaking ceremony was held at Mauban, Quezon province in the Philippines, on December 10, 2015. The project will be one of the first power plants in the country to utilize efficient supercritical technology. The project will have a gross output capacity of 500MW of which 455MW will be contracted for sale to the Manila Electric Company (Meralco) on a long term basis.

San Buenaventura power project is held by San Buenaventura Power Ltd. Co. (SBPL); the joint venture holding company in which EGCO Group is an investor together with Meralco PowerGen Corporation, in the proportion of 49% and 51%, respectively. SBPL has entered into a power supply agreement with MERALCO for term of 20 years from commercial operation date which is scheduled in the first half of 2019.

The groundbreaking ceremony was witnessed by Mr. Sombat Sarntijaree (6th from left), Chairman of Board of Directors of EGCO Group; Mr. Chanin Chaonirattisai (4th from left), President of EGCO Group; Mr. Oscar S.Reyes (5th from left), President and CEO of Meralco and President of Meralco PowerGen Corporation; and H.E.Thanatip Upatising (8th from left), Ambassador of Thailand to the Philippines.