3iPowergen

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3iPowergen operated three hybrid wind-diesel power plants in the island of Marinduque, Tablas, and Romblon of the Phillipines. These power plants supplied electricity for the three (3) islands electric cooperatives: Marinduque Electric Cooperative, Inc. (MARELCO), Tablas Island Electric Cooperative, Inc. (TIELCO) and Romblon Electric Cooperative, Inc. (ROMELCO) for a period of 15 years. The location of three power plant are at Bgy. Balogo, Sta Cruz, Marinduque, at Bgy. Cajimos, Romblon, Romblon, and at Bgy. Tubigon, Ferrol, Tablas Island. The capacities of the three power plants were to be 15.7-MW, 4.2 MW, and 10.6 MW, respectively. In September 2005, 3iPowergen Inc., won a competitive bid to supply power to the Philippine islands of Marinduque, Romblon, and Tablas. The power supply agreement (PSA) was signed on September 2005. 3iPowergen was a subsidiary of Coastal Power Development Corporation (CPDC). All three power plants was expected be operational on February 2007. The total estimated costs were to be Peso 1.4 billion or USD 24.8 million (calculated using average exchange rate of Peso/US$ for 2006 which was US$1= Peso 51). The plant was scheduled to replace the old aging bunker fuel oil-fired power plant in located in three islands. In August 2006, the Government of Phillipines granted 3i Powergen a package of tax breaks under the government's initiative for the 3 projects.