Symbolic Transfer of Sual Power Station

Shareholder representatives of TeaM Energy Corporation hand-over to Power Sector Assets and Liabilities Management Corporation (PSALM) President/CEO Dennis Edward A. Dela Serna (3rd from left), and National Power Corporation (NPC) President/CEO Fernando Martin Y.  Roxas (2nd from right) symbolic replicas of the Sual Power Station (SPS) during a recent appreciation event hosted by TeaM Energy. Handing over the plant replica to Mr. Dela Serna is Izumi Kai, President/CEO, JERA Asia (2nd from left). Passing on a similar replica to Mr. Roxas is Moroo Shino, Chief Executive Officer, Marubeni Asian Power Singapore (3rd from right).  Also on stage is Mitsuhiro Kojima, Officer in Charge, TeaM Energy (left), and Kazunobu Takijima, Chief Finance Officer, TeaM Energy (right). On October 25, 2024, TeaM Energy completed the turn-over of the 1,200 MW SPS, located in Sual, Pangasinan, to the Philippine government, through PSALM.  The plant was built under a 25-year Build Operate and Transfer (BOT) scheme with the national government, then represented by the NPC. On the same day of TeaM Energy’s transfer of the plant to NPC and PSALM, Sual Power Inc., a subsidiary of San Miguel Global Power (SMGP) received the facility from PSALM.