Key Takeaways:
- Cebu province and its neighbors are assured of a surge in development within three to four years.
- The new power plants are vital to the province’s growth. Without these, the region may face imminent power shortages.
- Energy initiatives from major power sectors will amplify the region’s major infrastructure development.
- Cebu’s power demand is projected to increase by 7% annually, per the National Corporation Philippines.
- Energy initiatives support the region’s growing urban development.
Cebu province is assured to be on the brink of an unprecedented surge in development in the coming three to four years, said Charles Kenneth Co, the former president of the Cebu Chamber of Commerce, Inc.
Supporting this developmental surge are two significant energy initiatives from the Third Transmission Voltage Interconnection Project and the Therma Visayas Inc. (TVI3) Toledo Power Plant of Aboitiz Power Corporation.
TVI is one of the largest power plants in Cebu. It has been a reliable in providing the province’s energy stores, powering major infrastructures, buildings, and utilities. Its role is vital to province’s economic growth.
Set for an expansion, Co said that the TVI3 in Toledo’s 169-megawatt baseload capacity is expected to reduce, if not eliminate Cebu’s reliance on imported energy from other regions. The power plant’s expansion allows Cebu to become self-sufficient and more sustainable, energy-wise, as well as minimizes risk coming from external factors.
Co emphasized the importance of new power plants in the province. “Without the construction of new power plants within the next three to four years, there may be an imminent power shortage.”
This time frame is critical to meeting the challenges of Cebu’s infrastructure projects, many of which include the widening of the third Mactan Bridge, the expansion of the Cebu International Airport, and the construction of the proposed Cebu subway system.
Apart from these, Cebu also has its eye on its goal to amplify its tourism sector with the construction of new hotels, resorts, and other tourist-friendly attractions and amenities. Many of these are already under development, such as the Mandani Bay Quay and the Movenpick Hotel in Mactan, Cebu.
Based on the National Grid Corporation Philippines, the annual power demand of Cebu is projected to increase by 7% annually.
Energy infrastructure and urban infrastructure go hand-in-hand. With the two power initiatives being set in place, business leaders can look forward to transformative development and urban growth in Cebu province.