The Power Sector Assets and Liabilities Management Corporation (PSALM) has handed over ownership of the 1,200 MW Ilijan Power Plant in the Philippines to South Premiere Power Corporation, a wholly owned subsidiary of San Miguel Corporation (SMC).
This move is in line with a 2010 administration agreement on the Ilijan natural gas-fired combined cycle power plant between South Premiere and PSALM.
The power plant in Ilijan is divided into two blocks, each with two gas turbine generators and one steam turbine generator. Korea Electric Power Corporation Ilijan’s (KEPCO Ilijan) build-operate-transfer contract for the facility expired in June 2022. San Miguel secured the management contract for the power plant after being chosen as the highest bidder.