ERC renews the COC of CBK Power Company Ltd.
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ERC awards a renewed COC to CBK-PCL. Engr. Masahiro Ikezawa (4th from left), CEO & President of CBK-PCL, receives the Certificate from ERC Chairperson Zenaida G. Cruz-Ducut (3rd from left). Witnessing the event are (L to R) ERC Commissioners Alejandro Z. Barin, Maria Teresa A.R. Castañeda, Jose C. Reyes and Rauf A. Tan. |
The Energy Regulatory Commission (ERC) renewed on 09 November 2009 the Certificates of Compliance (COC) for the power plants of Caliraya-Botocan-Kalayaan Power Company, Limited’s (CBK/PCL), namely: (a) Kalayaan Pump Storage Power Plant Stage I’s (KSPP I) two (2) units, with an aggregate installed capacity of 300.6 MW, and are located at Brgy. San Juan, Kalayaan, Laguna; (b) Caliraya Hydroelectric Power Plant’s (CHEPP) two (2) units, with an aggregate installed capacity of 35.02 MW, and located at Caliraya, Lumban, Laguna; and (c) Botocan Hydroelectric Power Plant’s (BHEPP) three (3) units, with an aggregate installed capacity of 21.995 MW that are located at Botocan, Majayjay, Laguna.
In 1998, the National Power Corporation (NPC) and the Industrias Metallurgicas Pescarmona Sociodad Anomie (IMPSA), a corporation existing under the laws of Argentina, entered into a Build-Rehabilitate-Operate-Transfer Agreement (BROT) for a Cooperation Period of twenty five (25) years starting from the Turnover Date. CBK/PCL was established to carry out the CBK Project, and was registered with the Philippine Securities and Exchange Commission (SEC) on 15 March 2000 as a Limited Partnership. Under an Accession Undertaking executed on 20 September 2000, CBK/PCL became a party to the Agreement and agreed to carry out the CBK Project.
IMPSA and Edison Mission Energy (EME) previously owned direct and indirect equity interest in the Dutch Companies that owned the CBK Project. In 2005, the Electric Power Development Company, Limited (J-Power) and Sumitomo Corporation (Sumitomo) acquired direct and indirect equity interests in IMPSA and EME. With such sale, a J-Power and Sumitomo Partnership was formed and now owns the CBK Project.
A COC is issued to a generation company (GenCo) or a self-generating facility (SGF) to certify its compliance to technical, financial and environmental standards that are specified in the ERC’s Guidelines for the Issuance of Certificate of Compliance for Generation Companies/Facilities, as Amended. A COC has a term of five (5) years. During that term of the license, the generators are required to comply with the terms and conditions set forth in the Guidelines and to comply with the reportorial, technical and financial requirements set by ERC.
“Power generators are vital components of the electricity industry. The ERC is pleased that the power generators have been prudently and diligently fulfilling their responsibilities, particularly those that involve environmental protection. The ERC assures the electricity consumers that it will closely monitor the compliance of power generators to the set standards to ensure quality, affordable and reliable service,” ERC Chairperson Zenaida G. Cruz-Ducut said.
November 18, 2009