Calaca Batangas Diesel Power Barges

concluded

This 90-MW project consisted of 3 barge-mounted diesel-fired turbines anchored off the coast of Calaca. The 3 barges each cost approximately US$28 million and each held one 30-MW diesel-fired turbine. Polar Energy Inc. and Napocor signed a 5-year lease agreement for the facility. The lease had the option to be extended for an additional 5 years, but the option was not ultimately exercised. Each barge held a single turbine, measured 250 feet by 60 feet, and had a draft of 16 feet. The turnkey contractor, Far East Levingston Shipbuilding, a susbsidiary of Keppel Corp., was also an equity stakeholder in the project. The project came on-line in September 1993. After the 5-year termination, the ownership of the barges was transferred to Napocor. Napocor had signed a PPA with the project including a guaranteed minimum offtake. None None