SK E&C to build coal power plants in the Philippines

SK Engineering & Construction will invest roughly 2.2 trillion won ($2.01 billion) into building coal-fired power plants in the Philippines’ Quezon Province.

According to the Korean construction company on Friday, it delivered a letter of intent to the Philippines’ government to build two 600-megawatt coal-fired power plants during a Philippines-Korea business forum and luncheon in Seoul with President Rodrigo Duterte of the Philippines. The Korean company plans to operate the plants as an independent power producer.

The power plants will use ultra supercritical technology, the latest coal technology. According to SK, it can enhance power generation efficiency by about 15 percent and reduce emissions.

The Korean company said the power plants will reduce power shortages in the Southeast Asian country and lower energy bills. It also expects that 3,000 new jobs will be created during the construction period.

Korean financial institutions, including the Korea Development Bank, are considering investing in the project, according to SK.

By Kim Jee-hee