Siemens, WIEP plan Subic Bay
Wisconsin International Electric Power (WIEP) and Siemens Power Generation (KWU) signed a memorandum of understanding to construct a (US)$75 million, 150 MW gas turbine power plant in the recently established Subic Bay free trade zone, Philippines. WIEP will develop the project and Siemens/KWU will be the turnkey constructor of the power plant.
Subic Bay Metropolitan Authority (SBMA) will take the plant?s electricity production from WIEP. The plant will supply power to new and growing businesses located on the vast grounds of the former US Navy?s Subic Bay port facility. In the past four years, some 200 companies from l5 countries have invested more than (US)$8 billion to resurrect, revitalize and use the facilities.
The plant?s power, which will be generated by a 150 MW Siemens V84.3A gas turbine in a simple-cycle arrangement, will be sold to SBMA under a Otake and payO contract.
The plant is anticipated to be the first merchant plant in the Philippines which will be operated without a firm power purchase agreement. According to the partners, the plant will likely be expanded to a combined-cycle arrangement at a later date.