Power

20% of profits: First Gen still assessing when San Gabriel plant will resume

First Gen Corp. is still assessing when its 414-megawatt San Gabriel power plant will resume operations after shutting down on September 5.

In a report to the Philippine Stock Exchange, First Gen said: “Further investigation and inspection of the generator is ongoing, and the plant has been declared unavailable for dispatch during this time. Pending completion of the experts’ findings, the company is unable to provide an estimate of the expected return to service of the San Gabriel Plant.”

The Batangas plant was shut down after it suffered a power trip due to an electrical fault in the generator, according to its operator, Siemens Power Operations, Inc. (SPO).

San Gabriel plant raised $17 million in recurring earnings in the first half for First Gen. This is equivalent to 20 percent of its profits from natural gas power sales. The four-year old plant is the most efficient natural gas-fired plant in Southeast Asia.

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