When completed, this project is expected to be one of the first converted CFPPs in the world to generate transition credits, a concept mooted by the Monetary Authority of Singapore (MAS) last year.
Under a new study, Keppel and Temasek subsidiary GenZero will explore creating and using transition credits to help fund the early retirement of a coal-fired power plant (CFPP) in the Philippines. This would shorten the lifespan of the plant by a decade to 2030.
The two parties have signed a memorandum of understanding (MOU) with Acen, the listed energy company of the Philippines’ Ayala Group, to accelerate the decommissioning of the 246-megawatt South Luzon Thermal Energy Corporation (SLTEC) in Calaca, Batangas.
