ACEN, GenZero and Keppel have agreed to jointly explore the origination and utilization of transition credits (TCs) to accelerate the retirement of the South Luzon Thermal Energy Corp. (SLTEC) coal-fired power plant in Batangas, the Philippines, and replace it with a clean energy dispatch facility.
The origination and sale of TCs will help to accelerate the decommissioning of the 246-megawatt SLTEC coal-fired power plant located in Calaca, Batangas, by 2030. When completed, this project is expected to be one of the first converted CFPPs in the world to generate TCs.
The project also will explore the development of end-to-end technological solutions and economic model of the coal-to-clean transition focused on the replacement of the 246-megawatt baseload of the coal plant with an integrated renewables and energy storage system (IRESS) consisting of solar plant and battery storage.
Coal-fired power plants are the single largest source of carbon emissions globally,