EWC

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1.9¢ energy world corporation ltd

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simondj

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13/08/14

21:43

Post #: 13813810
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Originally posted by PalmTree ↑

Moving forward.

EWC sets start of nat gas power plant

By Iris C. Gonzales (The Philippine Star) | Updated August 11, 2014 - 12:00am
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MANILA, Philippines - Energy World Corp. (EWC), an Australian listed energy company, will strive to commence commercial operations of the first 200 megawatts of its 650 MW natural gas power plant in Pagbilao, Quezon early 2015, its top official told The STAR.
This is in response to a request from the Department of Energy for the company to accelerate the plant’s commissioning amid a looming power shortage next year.
“We’re working with the DOE very closely to bring it in early part of next year. Equipment has already been shipped,” said EWC chief executive officer Stewart Elliott, reacting to a The STAR report that the company’s power plant project will be delayed from the previous December schedule.
Specifically, he said the 2 x 200 megawatts gas turbines manufactured by Siemens have already been shipped and are scheduled to arrive in the Philippines in September and October.
“Under this accelerated program we hope to have the first 200 MW ready for generation by early next year with the second 200 MW to come online shortly thereafter. By achieving this program we will meet the DOE’s request to bring into commercial operation an additional 400 MW of power capacity to the Luzon grid by summer of 2015,” EWC said in a separate email to The Star.
The additional 200 MW to 250 MW steam turbine package would be phased-in into development by end 2015 or early 2016, EWC added.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Based on timetables released by the DOE in February last year, the EWC’s first unit was supposed to be online in December this year and the turbines were supposed to arrive in May 2014.
Elliot did not comment on the previous timetables but said that the company is exerting its best efforts to “put forward the commercial operations of the plant as soon as possible.”
EWC is aiming to put up the first liquefied natural gas (LNG) hub terminal in the country, in support of the DOE’s push to reduce the country’s carbon footprint per kilowatt-hour and develop an environment-friendly energy industry to support economic growth.
Elliot is not new to energy crises in the Philippines, the company said.
It noted that in the mid-90’s, he led the development of the Navotas power plant, duly completed in record time to address a shortfall in capacity.
“Elliott then went on to develop both the Pagbilao and Sual power plants which also pioneered the Independent Power Producer model in the Philippines. Today, through EWC, Elliott is again helping overcome the power generating shortfall in Luzon,” the company also said.

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Nice find. Can smell an announcement soon on EWC...maybe in regards to JV with Strike but volumes are low and SP is accumulating in a tightenting coil. Purely imho

EWC Price at posting: 36.0¢ Sentiment: Buy Disclosure: Not Held
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Last 1.9¢		Change -0.001(5.00%)		Mkt cap ! $29.24M

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