Businessman Gregorio Araneta III is spending P10 billion to build an 800-megawatt pump storage hydropower plant in Pangil, Laguna. Araneta said Gregorio Araneta Inc. was now conducting a predevelopment feasibility study on the project which would have an initial capacity of 170 MW. Araneta said aside from the hydro power project in Laguna, the company also planned to build a power plant in Mindanao. Araneta said unit Energy Oil and Gas Holdings Inc. also submitted an unsolicited proposal to build a $2-billion integrated liquefied natural gas project in Bataan. The group plans to initially build a 600-MW LNG power plant at roughly $1.2 billion and eventually increase the output to 1,200 MW and 2,000 MW.

Source: The Standard November 01, 2017 12:22 UTC