ABOITIZPOWER subsidiary Therma South Inc. (TSI) has secured fiscal perks for its proposed P24.945-billion 300-megawatt power plant project in Davao.

The Board of Investments (BOI) recently approved TSI’s registration as a new developer of coal-fired power plant.

“This will go a long way toward not only meeting the energy requirements of Mindanao but also in fulfillment of the government’s vision of ‘Energy Access for More’ with mainstream access to reliable energy services in fueling up local productivity and countryside development,”  Trade Secretary and BOI chairman Gregory L. Domingo said.

The project site encompasses 46 hectares (has.) of land and 6.5 has. of foreshore area. Approximately 36.7 has. are in Davao City and the remaining 15.3 has. are in Davao del Sur.

The project site is on the narrow coastal strip of the eastern slope of Mt. Talomo, facing the Davao Gulf. The main plant will be on the northern portion of the property, with the coal unloading facilities and storage areas in the southern portion of the said property.

The plant is designed for base load application and is intended for electricity production to supply the electricity requirements of Mindanao. It will use clean technology in its operation and will source its coal requirements from Indonesia.

The generated electricity will be sold to customers such as Davao Light and Power Corp., Cotabato Light and Power Corp., Davao del Sur Electric Cooperative and Davao Oriental Electric Cooperative to be delivered via the Mindanao grid of the National Grid Corp. of the Philippines upon the approval of the Energy Regulatory Commission.

The project will employ a total of 121 personnel and start of commercial operation is slated on January 2015.

TSI is a wholly owned subsidiary of Therma Power Inc. and an affiliate of AboitizPower Corp.

The BOI also recently granted fiscal incentives to projects submitted by Filinvest Land Inc., Oriental Vision Mining Philippines Corp., Venvi Agro Industrial Ventures Corp. and Panabo Trucking Services with a cumulative investment of P1.84 billion and total job generation of 402.