PacificLight's existing 800 MW gas-fired power plant in Jurong Island Industrial Estate, Singapore … [+]
PacificLight Power, a Singapore-based private company backed by Indonesian billionaire Anthoni Salim's Hong Kong-listed First Pacific Corp, won a S$1 billion deal ($735 million) contract to build, own and operate a hydrogen combined cycle gas-fired power plant in Singapore as the country accelerates its deployment of clean energy technologies.
The 600-megawatt power plant, which includes a battery storage facility, will be able to run on hydrogen fuel when completed in January 2029, Singapore-based PacificLight said in a statement. The generator will be the largest hydrogen power facility in the Lion City and will increase PacificLight's power generation capacity by 64% over its existing and under-construction capacity.
PacificLight is a subsidiary of the power generation arm of Manila Electric Co., the Philippines' largest electricity retailer and controlled by Metro Pacific Investments, the Philippine subsidiary of Salim's First Pacific, part-owned by tycoon Manuel Pangilinan. Manila Electric's owners also include JG Summit Holdings, the publicly traded conglomerate of the Philippines' Gokongwei family.
“The facility will be able to generate at least 600 megawatts of electricity and will be integrated with a large battery energy storage system,” PacificLight said. “It will be able to use at least 30% hydrogen initially and burn 100% hydrogen in the future.”
Manila Electric Co. said in a separate statement that the new plant will add to PacificLight's existing 830-megawatt capacity that has been operating since 2014, as well as a new 100-megawatt plant that began operations in the second quarter of this year. PacificLight's “continued strong performance in a highly competitive electricity market allows us to advance this industry-leading project to bring more clean power to Singapore,” said Pangilinan, chairman of Manila Electric Company.
According to the “Indonesia Rich List”, Salim and his family have a net worth of US$12.8 billion, ranking fifth in Indonesia. Forbes Asia December 2024.
JG Summit head Lance Gokongwei and his siblings have a net worth of $1.9 billion, making them the 11th richest family in the Philippines, according to a ranking released by Forbes Asia in August. The group has diversified interests in aviation, banking, real estate, retail, petrochemicals and food and beverage industries.
