While local projects are being developed to help ensure a robust and commercially-responsive supply of power, MGen is also open to power generation opportunities in overseas markets.
Combining MGen’s technical expertise with First Pacific’s entrepreneurial expertise and financial resources, FPM Power Holdings was formed in 2013 and acquired a 70% interest in GMR Energy (Singapore) Pte Ltd that owns a 2x400MW LNG power plant in Singapore.
GMR Energy (Singapore) Pte Ltd was renamed PacificLight Power Pte Ltd and the name of its wholly owned retail company, GMR Supply (Singapore) Pte Ltd, changed to PacificLight Energy Pte Ltd. marking the entry of the new owners.
The facility, located on Jurong Island, started commercial operations in the first quarter of 2014. It is the first power plant in Singapore fully fuelled by liquefied natural gas (LNG) instead of piped natural gas in response to the Singapore government’s policy to diversify its energy sources.
According to MGen President Oscar S. Reyes, the project complements MGen’s existing greenfield project developments in the Philippines. He added that MGen’s participation in the joint venture is an expression of the company’s long-term vision to be a regional player in the power industry. He also envisions the joint venture to provide LNG combined cycle power plant technology transfer to the country.
For more information about PacificLight Power Pte Ltd, please click on the link: PacificLight Power