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 Tidal Energy Today

Events>

<< Apr 2017 >>
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 2017

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event. It is unique in bringing together the oil & gas…

read more >

Waterpower week

The event highlights perspectives on the role of hydro, explores issues affecting hydro and marine resources, and helps participants develop…

read more >

All-Energy Exhibition and Conference 2017

All-Energy has provided the industry suppliers, experts and thought-leaders from the renewable energy supply chain the opportunity…

read more >

The Future of our Seas

At the heart of European Maritime Day is the a 2-day conference “The Future of our Seas”. High-level sessions and stakeholder workshops..

read more >