PSALM begins Mindanao coal plant’s retirement, repurposing

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State-owned Power Sector Assets and Liabilities Management Corp. said Friday it started preparations for the early retirement or repurposing of the 210-megawatt Mindanao coal-fired power plant in Villanueva, Misamis Oriental.“The Mindanao coal energy transition mechanism or plan is for the early retirement of the STEAG or Mindanao coal fired power plant.

The Department of Energy earlier said it planned to use the $500-million funding recently approved by the Climate Investment Funds for the Mindanao coal-fired power plant. The DOE said PSALM, the offtaker of CFPP’s power supply, has the option to pre-terminate the BOT as early as 2026, for an agreed termination pay-out.

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MlaStandard /  🏆 20. in PH

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