The 100 MW Pantabangan Hydroelectric Power Plant
The 100 MW Pantabangan Hydro electric Power Plant is composed of 2 x 50 MW turbine-generating units. The plant harnesses the potential energy of the stored water inside the Pantabangan Reservoir, the largest water reservoir in the Philippines in terms of storage capacity, and converted it into electricity. The construction of power plant facility was officially started on Jan. 21, 1974 and inaugurated by, then, President Ferdinand Marcos on June 19, 1977. The Plant was built at a cost of Php241.4 Million. It is located at Brgy. Fatima, Pantabangan, Nueva Ecija, 180 Km North of Manila.
Prior to its privatization, the plant was formerly owned and operated by the National Power Corporation (NPC).
The Plant was part of the 112 MW Pantabangan-Masiway bidding package that was purchased by First Gen Hydro Power Corporation (FGHPC) for USD129 Million through a competitive bidding on Sep. 8, 2006; and was officially turned-over from NPC to First Gen on Nov. 17, 2006.
On October 15, 2008, the board of directors of First Gen Corporation (”First Gen”) approved the sale of 60% of First Gen Hydro Power Corporation (”FGHPC”) to Energy Development Corporation (”EDC”). Sixty percent of FGHPC’s equity value represents approximately USD 105 million. EDC is a subsidiary of First Gen.
Filed in: Hydro, Power Plants in the Philippines, Small and Large Hydro
Local date: March, 2010