Village Connect
In a ceremonial event held by TeaM Energy Corporation, the symbolic turnover of the Sual Power Station (SPS) was carried out, signifying the completion of its 25-year Build-Operate-Transfer (BOT) agreement. Representatives from TeaM Energy handed replicas of the 1,200 MW facility to Dennis Edward A. Dela Serna, President/CEO of Power Sector Assets and Liabilities Management Corporation (PSALM), and Fernando Martin Y. Roxas, President/CEO of National Power Corporation (NPC). The event underscored the partnership that facilitated the operation and management of one of the country’s largest coal-fired power plants. Izumi Kai, JERA Asia President/CEO, and Moroo Shino, CEO of Marubeni Asian Power Singapore, led the symbolic handover alongside other TeaM Energy executives Mitsuhiro Kojima and Kazunobu Takijima.
The Sual Power Station, located in Pangasinan, was officially transferred to the Philippine government on October 25, 2024. The plant’s construction and operation under the BOT scheme were pivotal in addressing the country’s energy demands over the past two decades. TeaM Energy’s handover marked the conclusion of its management, with the plant’s ownership passing to PSALM and NPC as representatives of the national government. The event highlighted the plant’s significance as a strategic energy asset and the seamless cooperation between public and private entities in ensuring the continuity of energy supply.
On the same day, following the transfer from TeaM Energy to the government, the facility was subsequently handed over to Sual Power Inc., a subsidiary of San Miguel Global Power (SMGP). This move signaled the next chapter in the plant’s operational journey, with SMGP taking over its management. The multi-step turnover process demonstrated the successful implementation of the BOT model and its role in fostering private sector participation in infrastructure development. The Sual Power Station continues to stand as a cornerstone of the country’s energy infrastructure, supporting economic growth and development.
