Need update, page-35

This DOE reference to EWC Pagbilao power plant isprobably what Cusi had in mind when referring to DoE having incorporated EWC inits plans re: operational power plants.

18 March 2019 DOE publication:PrivateSector Initiated Power Projects as of 28 February 2019

https://www.doe.gov.ph/electric-power/private-sector-initiated-power-projects-28-february-2019

I just copied the reference to EWC pagbilao power plant

FEASIBILIY STUDY:

• Completed

'ARRANGEMENT FOR SECURING THE REQUIRED LAND:

• Land isalready secured with a long lease entered into since 2007

MARKETING OF GENERATING CAPACITIES:

• No specificoff taker yet but already have a discussion with Federation of PhilippineIndustries, intended to supply power into the Wholesale Electricity Spot Marketbut is also open to discussing

potential off take arrangements as well

• 100% WESM

PERMITS AND OTHER REGULATORY REQUIREMENTS:

• GIS for 300MW issued by NGCP on 8 August 2013 and revised on 3 July2013 for 600MW

• Issued DOE Endorsement for Revised Capacity on 3 July 2013;

• Revised DOE clearance for GIS submitted to NGCP on January 2014

• GIS from NGCP for the 600MW was released on August 2014;

• Several Resolutions has been issued on May 2014 (SangguniangBarangay Resolution, Sangguniang Bayan Resolution and Sangguniang PanlalawiganResolution) interposing no objection for

the construction of a 600 MW Liquified Natural Gas (LNG) Power Plant;

• On‐going processing of ECC for power plant

FINANCING ARRANGEMENTS:

• Financial Arrangement Secured

• Syndicated Loan

• Project Cost:$300M

• Signing of loan agreement last 18 Sep 2015

CONSTRUCTION CONTRACTS FOR PLANTS AND EQUIPMENT:

• Enteredinto a Sale and Purchase Agreement last October 2012 with Siemens Energy fortwo 200 MW gas turbines and the first 200MW turbine is expected to arrive bySeptember 2014

• LNG Tank is currently at 50% construction completed as of August2014;

COMMENCEMENT OF CONSTRUCTION:

• December 2013

• Completed

Target testing and commissioning: March 2019

Target commercialoperation: June 2019