First Gas considers power plant options

Philippine's First Gas Power Corp has other options, it seems, should its bid for Sucat power plant fall through, including constructing one of its own.

"Acquiring Sucat is just one of the options we are looking at. We can [also] start a Greenfield," said First Gas vice chairman, and a man who also happens to be president of First Gas Holdings Inc, Peter Garuccho.

The company's move to acquire the 600 MW plant is part of its plan for the construction of the 100 km Batangas to Manila natural gas pipeline project, known locally as the BatMan I project. Garuccho is adamant that construction of the US$100 million pipeline project will only happen when the bid for Sucat is settled.

The Philippines government has put off bidding for the power plant until the first quarter of next year. First Gas currently operates two power plants, the 1,000 MW Sta. Maria and the 500 MW San Lorenzo.