“We need to modernize our aging infrastructure to reduce transmission losses and enhance service reliability across the country”
This happened as some 30 power generating plants went on forced outage or on scheduled maintenance – glaring evidence the current crop of generating plants is now unreliable to supply the needs of this nation. With power demand outpacing available energy supply, the imperative for additional power plants cannot be overstated.While there are a few renewable power plants sprouting all over the country, we need 24/7 baseload capacities to really resolve the supply deficit and meet growing demand.
Under the deal, MGen and Aboitiz Power will invest in SMGP’s 1,278-megawatt Ilijan gas-fired power plant and a new 1,320-MW facility slated for completion by the end of the year. LNG power plants offer a compelling solution to augment our energy portfolio given its inherent versatility, cleanliness, and efficiency, allowing us to diversify our energy sources and, at the same time, mitigate environmental impacts as we push for sustainable energy development.
Beyond generation, energy investments should also extend to transmission and generation to modernize and fortify transmission and distribution networks to improve the delivery of power to all consumers.