SMC eyes tidal power for Philippines

Illustration (Photo: flickr/KSI Photography)

 
San Miguel Corporation (SMC) is reportedly planning to invest over $3 billion to develop a tidal power plant in the Philippines.

SMC’s President, Ramong Ang, said the cost of tidal plant that would produce up to 1,200MW of power would be $3.6 billion at $3 million investment per MW, according to the international stock market and financial news provider 4-traders.

“Our first renewable energy project will use ocean tidal technology and will generate 1,200 megawatts of electricity. It’s big, and it’s very cheap to operate that. It doesn’t require fuel. You spend to build it once and, with proper maintenance, it will run forever,” Ang was quoted as saying by the Inquirer.

The potential location for the project, as well as the technology that could be used, have not been revealed, but as 4-traders reports, the project already passed the financial and technical feasibility.

The construction could take up to five years, and SMC will not seek the subsidy from the government should it get to the targeted scale or capacity on a preferred single site, Manilla Bulletin reports.

Share this article

Follow Marine Energy

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Offshore Energy Exhibition & Conference (OEEC) 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event…

read more >

Ocean Energy Europe Conference & Exhibition 2018

The annual Ocean Energy Europe Conference & Exhibition is the meeting point for the whole ocean energy sector…

read more >