San Miguel Global Power (SMGP), a key player in the energy sector, is moving forward with plans to add up to 3,320 megawatts (MW) of power capacity by 2028, with an estimated investment of at least P52.7 billion.
According to a recent filing with the Philippine Dealing and Exchange Corp., the company is focused on expanding its thermal and renewable energy portfolio. Among the significant projects underway are two additional coal-fired units in Masinloc, Zambales, which will contribute 700 MW. The units are seen operational between 2025 and 2026, with progress showing 81 percent completion for Unit 4 and 69 percent for Unit 5 as of September 2024. The project is funded by P15.8 billion in equity-backed capital expenditures.
Additionally, SMGP is nearing the completion of its 1,320-MW BCC natural gas-fired power plant in Batangas, with 98.2 percent of the project completed and P36.9 billion in equity-backed investments.
As part of its transition toward cleaner energy, SMGP is also preparing to bring online approximately 1,300 MW of solar power by 2028, with projects slated for Bataan, Bulacan, and Isabela. The company is partnering with ATE Energy to complete a 320 MWh battery energy storage system in Mariveles within this year.
While specific funding details of the solar and energy storage systems were not disclosed, SMGP’s overall portfolio now totals 4,682 MW, complemented by 1,000 MWh of energy storage, spanning across hydro, natural gas, coal, and renewable energy sources.
Looking ahead, SMGP has plans to expand further with an additional 1,100 MW of solar projects across the Visayas and Mindanao, as well as the planned development of small-scale natural gas-fired units in Mindanao to support rural electrification.
This expansion underscores SMGP’s role as a force in the energy sector, positioning it for long-term growth in the face of increasing demand for both reliable and sustainable energy solutions.
