Masinloc Power Station Expansion Project Under Construction Project type Coal-fired power plant Location Masinloc, Output 315 MW x 3 Cost US$1.2 billion Source of funds Private Proponent SMC Global Power Start of Construction March 2016 (Unit 3), TBA (Unit 4 and 5) Status Active

Start of Operations Jan 2021 (Unit 3), TBA (Unit 4 and 5) Photo source: POWER Magazine Project Description: Developments

The project involves the construction of 3 x 315 MW units to increase the • February 2021: SMC Global power announced the development existing capacity of the Masinloc Power Station in Zambales, west coast of another 315 MW unit that will utilize supercritical technology. of . The initial plan was to build two additional units but on February • January 2021: Unit 3 in operation and Unit 4 in pre-permit stage. 2021, SMC Global Power announced that it would construct another 315 • January 2020: Unit 3 in testing and commissioning stage. MW unit with supercritical power technology. • December 2018: Construction of Unit 3 completed. • August 2016: US firm POWER Engineers selected as engineering The existing plant was built by the GPH National Power Corporation in contractor of the project. 1998. It was acquired by the US firm AES in 2008 and was sold to San • March 2016: Groundbreaking ceremony. Miguel Global Power in 2018. Updated on February 19, 2021 San Buenaventura Power Plant

Operational Project type Coal-fired power plant Location Mauban, Quezon Output 455 MW Cost PhP56 billion Source of funds Private Proponent San Buenaventura Power Start of Construction 2015 Status Active Start of Operations September 2019 Photo source: ABS-CBN News Project Description: Developments • September 2019: Project started commercial operation. The San Buenaventura Power Plant is the second unit of the • December 2015: Start of construction. EPC contract jointly Quezon Power Station on the east coast of Luzon. It is the awarded to Daelim Industrial and Mitsubishi Corporation. • May 2015: ERC approved a 20-year power supply first supercritical coal-fired plant in the country. agreement between Meralco and San Buenaventura

San Buenaventura Power Ltd. Is a partnership between Power. Meralco Power Gen and the EGCO Group of Thailand. Updated on September 30, 2019 Redondo Peninsula Energy Power Plant Under Development Project type Coal-fired power plant Location Subic, Zambales Output 300 MW x 2 Cost PhP50 billion Source of funds Private Proponent Redondo Peninsula (RP) Energy Start of Construction pending Status Active Photo source: First Gen Corporation Start of Operations pending Developments Project Description: • May 2019: The Supreme Court invalidated the project’s PSA with Meralco because it had not gone through CSP further delaying the development of the plant. The proposed project is a two 300 MW circulating-fluidized bed • April 2019: RP Energy defers project for a year due to permitting coal-fired power plant in Redondo Peninsula in Subic, Zambales and site stability issues. that was initiated since 2007. • January 2018: EPC contract lapsed due to failure to complete PSA. RP Energy is a joint consortium between MeralcoPowerGen., • October 2016: EPC contract awarded to Azul Torre Construction Therma Power, and Taiwan Cogeneration International. and Doosan Heavy Industries and Construction. Updated on May 31, 2019 GNPower Dinginin Supercritical Coal-Fired Power Plant Under Construction Project type Coal-fired power plant Location Mariveles, Output 668 MW x 2 Cost US$1.7 billion Source of funds Private Proponent GNPower Dinginin Start of Construction Sept. 2016 (Unit 1), May 2020 (Unit 2) Status Active Start of Operations 2Q 2021 (Unit 1), 3Q 2021 (Unit 2) Photo source: AboitizPower Developments Project Description: • January 2021: Construction and testing for both units continue to The GNPower Dinginin project is a joint venture between face delays due to the pandemic. • November 2020: Unit 1 undergoes grid synchronization and Aboitiz Power’s ThermaPower, Ayala-owned AC Power, and testing and commissioning. Naurian-American Power Partners Ltd. • May 2020: Start of construction for Unit 2. • August 2019: Unit 2 EPC contract finalized. It will generate an additional 1,336 MW to the existing 600 • June 2019: Construction for Unit 1 completed. MW coal-fired plant in Mariveles. • September 2016: Start of construction for Unit 1. Updated on January 10, 2021 Atimonan One Energy Power Plant

Under Development Project type Coal-fired power plant Location Atimonan, Quezon Output 600 MW x 2 Cost US$3 billion Source of funds Private Proponent Atimonan One Energy Start of Construction pending Status Active Start of Operations Pending Photo source: powerphilippines.com Project Description: Developments

• August 2019: ERC granted Meralco’s PSA withdrawal request. The project will provide power by generating electricity from a highly • June 2019: Meralco filed for withdrawal of PSA application. efficient thermal power station using ultra supercritical technology. • May 2019: The Supreme Court disapproved the project’s PSA Atimonan One Energy is a wholly-owned subsidiary of Meralco PowerGen Corporation of Meralco. with Meralco and ordered for a competitive selection process.

Delays in securing regulatory‐approved PSA (more than 2 years), including Supreme Court decision in May 2019 which effectively nullified the project’s previously negotiated PSA, contributes to further push back to its construction schedule. Updated on August 8, 2019 Pagbilao (Unit 3) Expansion Project

Operational Project type Coal-fired power plant Location Pagbilao, Quezon Output 420 MW Cost US$1 billion Source of funds Private Proponent Pagbilao Energy Start of Construction August 2017 Status Operational Start of Operations May 2018 Photo source: Daelim Industrial Developments Project Description: • May 2018: Project completes testing and commissioning stage The 420 MW Pagbilao Unit 3 Power Project is an expansion of the 735 MW and started commercial operation. Pagbilao Power Station, which has been operating since 1996. • August 2017: Start of construction. EPC contract awarded to The existing station was built by Hopewell Holdings of Hong Kong. It was then Daelim Industrial and Mitsubishi Hitachi Power Systems. acquired by Southern Electric of U.S. (1997-2000), Mirant (2001-2007), and TeaM Energy in 2007.

Pagbilao Energy Corp. is a joint venture between TeaM Energy (a partnership between Tokyo Electric Power Company and Marubeni Corporation) and AboitizPower. Updated on May 15, 2018 Mindanao-Visayas Interconnection

Under Construction Project type Power grid connection Location Cebu and Lanao del Norte Capacity 450 MW Cost PhP 52 billion Source of funds Private Proponent NGCP Start of Construction 2018 Status Active Photo source: National Grid Corporation of the Philippines (NGCP) Start of Operations December 2021 Developments Project Description: • September 2020: NGCP announced that project will be delayed by one year to due to movement restrictions caused by the pandemic. • December 2019: Acquisition of tower sites and road right-of-ways on-going. The Mindanao-Visayas Interconnection Project (MVIP) will connect the Visayas • September 2019: Santander cable terminal station completed. and Mindanao power grids as part of the long-standing plan for a unified • November 2018: Groundbreaking ceremony. Philippine grid to allow Mindanao to participate in the Wholesale Electricity • May 2018: DOE classified MVIP as an energy project of national significance. Spot Market. • July 2017: ERC grants provisional authority to NGCP to implement the MVIP. • 2010-2016: Aquino administration studies alternative routes. Selects Cebu-Lanao Considered the biggest power infrastructure project in the country, the project • 1998: Luzon and Visayas grids were interconnected. involves the installation of 184 circuit-kilometers of submarine cables and 422 • 1984: TRANSCO recommends a $500 million connection of Mindanao grid to the circuit-kilometers of overhead wires to connect the Lala Converter Station, national grid. Lanao del Norte to the Dumanjug Converter Station, Cebu. Updated on December 4, 2020 GNPower Kauswagan

Under Construction Project type Coal-fired power plant Location Kauswagan, Lanao del Norte Output 135 MW x 4 Cost US$2.5 billion Source of funds Private Proponent GNPower Kauswagan Start of Construction 2015 Status Active

Start of Operations December 2019 (Unit 1,2,3), TBA (Unit 4) Photo source: GNPower Developments Project Description: • March 2021: AC Energy to sell 100% of its ownership interest to Power Partners Ltd. GNPower Kauswagan is a four-unit coal-fired power plant located in • December 2020: Testing and commissioning for Unit 4. • December 2019: Units 1, 2, and 3 starts operations. Lanao del Norte, Mindanao. Once completed, it will be a baseload • August 2019: Construction of units 1, 2, and 3 completed. Construction of Unit 4 plant to support power demand throughout Mindanao. starts. • June 2016: GNPower awarded EPC contracts to Shanghai Electric Power Construction, Inc. and Shanghai Electric Power Construction Philippine In March 2021, AC Energy announced that it will sell 100% of its Corporation. ownership interest of the project to Power Partners Ltd. Co. • September 2015: NTP certificate was issued to GNPower. Updated on March 9, 2021 EWC Pagbilao LNG Terminal

Under Construction Project type LNG hub terminal Location Pagbilao Grande Island, Quezon Capacity 3 MTPA Cost US$900 million Source of funds Private Proponent Energy World Corporation (EWC) Start of Construction March 2019 Status Active

Start of Operations 2024 Photo source: EWC Project Description: Developments • December 2020: Project completion which was originally 1Q 2022 is pushed back to Australian firm EWC is developing the country’s first LNG hub terminal. The 2024 due to constraints posed by the pandemic. • June 2019: ERC approved the project’s proposal to develop a point-to-point facility will support an adjacent 650 MW combined cycle gas-fired power transmission facility to connect its 650 MW gas plant to the power grid to the New plant. Pagbilao Station of the NGCP. • December 2018: DOE issued the project a permit to construct, own, and operate. EWC has been developing the import terminal and power plant since • November 2018: The project was certified as an Energy Project of National 2011 but construction was held back by several delays including the Significance (EPNS). The certification is intended to establish a simplified approval completion of a tie-in connection of the Tayabas-Naga transmission of process and harmonize the relevant rules and regulations of all government agencies involved in the permitting process. the National Grid Corp. of the Philippines. Updated on December 10, 2020 FirstGen LNG Terminal

Under Construction Project type LNG hub terminal Location Batangas City, Batangas Capacity 5 MTPA Cost US$1 billion Source of funds Private Proponents FGEN LNG and Tokyo Gas Start of Construction March 2021 Status Active Start of Operations 3Q 2023 Photo source: First Gen Developments Project Description: • January 2021: EPC contract awarded to McConnell Dowell Philippines. The project is a partnership between FGEN LNG, a wholly-owned Construction to begin in March. subsidiary of First Gen Corporation, and Tokyo Gas Co. Ltd. The • August 2019: Project certified as energy project of national significance. targeted market of the terminal will be First Gen’s existing gas-fired • May 2019: Groundbreaking ceremony in FGEN Clean Energy Complex in Batangas. plants in Batangas: Santa Rita (1,000MW), San Lorenzo (500MW), San • March 2019: DOE issued a NTP certificate to the project. Gabriel (414MW), and Avion (97MW) plants. The current source of • December 2018: FGEN signed a joint development agreement with fuel for these plants is the offshore Malampaya gas field operated Tokyo Gas. by Shell/Chevron, expected to end production in less than a decade. Updated on January 20, 2021 Tanglawan LNG Terminal

Under Development Project type LNG hub terminal Location Bauan, Batangas Capacity 2.2 MTPA Cost US$2 billion Source of funds Private Proponents Tanglawan Philippine LNG Start of Construction pending Status Active Photo source: LNG World News Start of Operations pending Developments • December 2019: The project applied for a temporary suspension of its permit to Project Description: proceed, following Udenna Corporation’s (a parent firm of Phoenix Petroleum) acquisition of Chevron Malampaya LLC’s 45% stake at the Malampaya gas-to- The proposed facility will be an onshore LNG receiving and power project consortium. Phoenix and CNOOC wanted to reassess and submit a new concept for the project to integrate the planned LNG terminal and regasification terminal that will be integrated with a future power Malampaya project. plant project with a capacity of 1,000 MW. • July 2019: DOE grants a six-month NTP certificate extension. • June 2019: Project filed for NTP extension due to permitting concerns. Tanglawan Philippine LNG is a joint venture between Phoenix • March 2019: Phoenix Petroleum Philippines and CNOOC Gas and Power Group signed a memorandum of understanding with Philippine National Oil Company. Petroleum Philippines and China National Offshore Oil Corporation • December 2018: DOE issued a NTP certificate to the project. (CNOOC). Updated on December 15, 2019 Excelerate Energy LNG Terminal

Under Construction Project type LNG hub terminal Location Batangas Capacity 1.5 MTPA Cost US$200 million Source of funds Private Proponents Excelerate Energy LP Start of Construction pending Status Active

Start of Operations pending Photo source: Excelerate Energy Project Description: Developments • December 2020: DOE extended the project’s NTP certificate for 6 The proposed facility is the fourth LNG project application to be issued an NTP months. permit by the DOE. Unlike other proposals for land-based facilities, Excelerate • September 2019: NTP certificate issued to the project. will build a floating storage regasification unit which will be easier and faster to bring into commercial operation. The market being targeted by the project is • July 2019: DOE asked for additional documentation from the the Ilijan gas-fired plant in Batangas, as well as a prospective expansion on the proponents on the project’s after market. facility that will up its capacity by an additional 1,200 MW. • December 2018: Excelerate Energy submitted its application to DOE. Excelerate Energy is a Texas-based pioneer and market leader in innovative floating LNG solutions. Updated on December 21, 2020