The Philippines

Leyte-Bohol Interconnection Project

External Evaluator: Toshiyuki Katagiri, Tomomi Ito

(The Japan Economic Research Institute)
Field Survey: November 2006, February 2007
1. Project Profile and Japan’s ODA Loan

Project site

Map of project area Ubay Substation

1.1 Background
After overcoming the power shortage crisis, the Philippines still required the
construction and expansion of power generation, transmission and substation facilities as
further increase in the power demand was expected with the economic growth. In the
Philippines, a plan was underway to connect the major islands by transmission lines to
form a nationwide grid, aiming at ensuring reliable power supply and controlling the
power generation capacity through the efficient use of emergency power. As of 1995,
most of the main interconnection lines were completed or under construction. The
Leyte-Bohol route and the Leyte-Mindanao route were the only main routes that were left
unconnected.
The power supply in Bohol Island as of 1996 was approximately 30 MW which
generated mainly by small-size hydroelectric power generation and diesel power
generation. The capacity of the hydroelectric power plant was small and power generation
was unstable because it depends on precipitation. However, diesel power generation
frequently stopped due to the aging of the plant. As more companies were expected to
start their operations in Bohol, power demand was predicted to exceed 50 MW after 1998.
In order to cope with an increase in power demand, securing stable power supply became
an urgent task.

1
1.2 Objective
The project objective was to cope with the increase in power demand in Bohol Island
and to ensure stable power supply by constructing a submarine cable and other
transmission lines between the islands of Leyte and Bohol which interconnect Bohol
Island to national power grids, thereby contributing to the economic development of the
island.

1.3 Borrower/Executing Agency

National Power Corporation of the Philippines (guaranteed by the Government of the
Republic of the Philippines)1

1.4 Outline of Loan Agreement

Loan Amount / Loan Disbursed Amount 8,086 million yen / 7,698 million yen
Exchange of Notes / Loan Agreement March 1997 / March 1997
Terms and Conditions
-Interest Rate 2.7%
(2.3% for the consultant services)
-Repayment Period (Grace Period) 30 years (10 years)
-Procurement General untied
Final Disbursement Date July 2004
Main Contractors Kanematsu Corporation, Nissho Iwai
Corporation, Xian Electric Import/Export
Co. Ltd (China), Zhejiang Electric
Transmission & Distribution Engineering
Corporation (China)
Consultant Services Electric Power Development, Co., Ltd.
(J-Power)
Feasibility Study (F/S), etc. 1996 National Power Corporation of the
Philippines
1996 SAPROF

2. Evaluation Result
2.1 Relevance
2.1.1 Relevance at the time of appraisal
At the time of appraisal of this project, infrastructure development was listed among

1
In the Philippines, division and privatization of the power sector has been underway since the Energy
Power Industry Reform Act (EPIRA), which took effect in June 2001. Under this act, transfer of the assets
and liabilities of the National Power Corporation (NPC) that had engaged in power generation and power
transmission until then to the Power Sector Assets and Liabilities Management Corporation (PSALM) has
been in progress since July 2001. The power transmission business is succeeded by TRANSCO (established
in 2001 and starting operation independently in March 2003), which is affiliated with PSALM. Under
EPIRA, TRANSCO held several bids for the concession contract (25 years) with private companies for the
operation and management of the power transmission business. However, no private company has been
selected yet.

2
the five priority areas in the Medium-Term Philippine Development Plan (1993–1998).
The plan set objectives to meet the energy demand necessary for regional development
and promote the diversification of power sources in order to ensure stable power supply at
the minimum cost. The Power Development Plan (1996–2005) included a plan to build an
integrated grid connecting Luzon, Visayas, and Mindanao and, for that purpose, a series
of projects to connect the main islands was designed. The construction of transmission
lines between Leyte and Bohol was one of the major interconnection projects in Visayas.
This project was aimed at transmitting electricity from a geothermal power plant in Leyte
to Bohol Island by constructing transmission lines between Leyte and Bohol. Therefore,
this project was consistent with the aforementioned national and sector policy and
considered highly relevant.

2.1.2 Relevance at the time of appraisal

At the time of evaluation, the Medium-Term Philippine Development Plan
(2004–2010) stressed the fight against poverty as the main issue and focused on the
promotion of economic development and creation of employment opportunities. In the
electric power sector, “supplying electricity and water regularly to every part of the
country” was listed among the 10-point legacy agenda of President Arroyo. In order to
ensure stable power supply, to promote the reform in the electric power sector, and to
move toward self-sufficiency of electricity, the aforementioned plan sets the objectives to
improve and expand transmission facilities of National Transmission Corporation
(TRANSCO). The Transmission Development Plan (2005–2014) developed a long-term
objective of building an integrated grid covering the entire country and high priority is
placed on the construction and extension of transmission lines connecting main islands.
Thus, this project is consistent with the above-described national and sector policy and
has been relevant since the time of the appraisal.

2.2 Efficiency
2.2.1 Outputs
This project was implemented in two stages as planned at the time of appraisal. In
Stage I, by the construction of a submarine cable between Leyte and Bohol and that of
related transmission lines and substation facilities on both banks, the grids in Leyte and
Bohol were connected to each other by 69-kV lines. In Stage II, related transmission lines
and substation facilities were constructed in order to raise the voltage of the Leyte-Bohol
submarine cable to 138 kV. The transmission lines and substations constructed or
expanded under this project are shown in Figure 1.

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 The project was implemented almost as Figure 1: Project Site
planned. The transmission line between
Leyte and Bohol was constructed as
planned. The overhead transmission lines
between the two islands were also Ormoc Central Substation

Existing transmission lines

constructed almost as planned, apart from Transmission lines constructed
under the project Ormoc Substation
some changes such as the reduction in
length as a result of the survey of the
actual sites. As for the substation facilities,
the number of outlets from substations
was increased from 13 (planned) to 16
Maasin Substation

(actual) for the more effective utilization Tugas CTS

Trinidad Substation
of power grids, and the number of
Guadalupe CTS
capacitors also increased from 6 units Ubay Substation

(planned) to 19 units (actual) in order to Alicia Substation

increase the transmission voltage and

reduce power loss (see “Comparison of
Original and Actual Scope”).

2.2.2 Project period

The project period was planned to last 49 months from March 1997 to April 2001. As
mentioned above, the project was implemented in two stages. At the completion of Stage I,
the transmission lines between Leyte and Bohol started transmission of electricity at the
voltage of 69 kV in February 2001. In Stage II, the voltage was raised and 138-kV power
supply started in August 2004. It took 90 months from the signing of the loan agreement
(March 1997) to start the 138-kV power supply via the submarine cable between Leyte
and Bohol (August 2004). As a result, the length of the actual project period was 184% of
the planned. The delay was mainly due to the time taken for the bidding procedure in each
of Stage I and Stage II.

2.2.3 Project cost

The cost of the project was estimated at 9,382 million yen (foreign currency portion:
8,086 million yen). The actual project cost was 7,918.54 million yen (foreign currency
portion: 7,698.85 million yen)2, the amount which was less than initially estimated. In

2
As sufficient data was not collected concerning a part of the local currency portion of the cost that should
be included in the actual cost, the amount of such part is not included in the actual cost. However,
considering that the excluded part occupied a very small part of the planned cost, it is presumed that the
actual cost would be less than the estimate even if the unaccounted expenditure were taken into account.

4
comparison of the foreign currency portion alone, the actual amount was almost as
planned, or 95.2% of the estimation.

2.3 Effectiveness
2.3.1 Evaluation criteria
This project is to meet a future increase in the demand for electricity and to achieve
stable supply of electricity by the construction of transmission lines between Leyte Island
and Bohol Island. On the assessment of the Effectiveness, both “achieving stabile supply
of electricity” and "coping with an increase in electricity demand" were major
considerations but "utilization of transmission facilities" was evaluated either. After being
implemented, the project contributed to the more stable supply of electricity to
beneficiaries and to a decrease in frequency/hours of forced outage. Furthermore, the
project increases electricity supply in Bohol Island which would cope with future increase
of electricity demand. As the demand for electric power in Bohol Island does not grow as
forecasted, the transmission facilities under the project had not used as planned.
However, the transmission facilities satisfies approximately 80% of the electricity
demand supply in Bohol Island and, therefore, achieve both stabile supply of electricity
and meeting an increase in electricity demand.

2.3.2 Stable power supply to Bohol Island

Table 1 and Table 2 below show the utilization rate 3 of transmission lines and
substation facilities constructed under this project. They have been working almost fully
throughout the year and are considered to contribute to the stabilization of the power
supply.

Table 1: Availability Factors of Transmission Lines Constructed in the Project

(%)
Transmission lines 01 02 03 04 05 06
Ormoc Central Substation
99.51 99.41 99.84 99.99 99.56 99.78
−Ormoc Substation
Ormoc Central Substation
--- --- --- 92.82 95.30 98.79
−Maasin Substation
Maasin Substation
97.69 95.57 96.99 95.67 99.88 99.72
−Guadalupe CTS
Guadalupe CTS
97.69 95.57 96.99 95.67 99.88 99.72
−Tugas CTS
Tugas CTS
97.69 95.57 96.99 95.67 99.88 99.72
−Ubay Substation
Ubay Substation
98.38 99.01 96.08 91.54 99.52 99.23
−Trinidad Substation

3
Availability factor = (total hours of the period - outage hours) / total hours of the period

5
 Ubay Substation
98.44 99.18 96.70 91.04 99.96 99.50
−Alicia Substation
Ubay Substation
98.44 99.18 96.70 91.04 99.96 99.50
−C.P. Garcia

Table 2: Availability Factors of Substation Facilities Constructed in the Project

(%)
Substation facilities 01 02 03 04 05 06
Ormoc Central Substation
99.99 99.98 99.98 98.36 99.82 99.99
138/69 kV, 50 MVA
Maasin Substation
99.98 100 99.95 100 99.99 99.99
138/69 kV, 30 MVA
Ubay Substation
99.32 99.85 99.87 99.73 99.86 99.63
69/13.8 kV, 5 MVA
Ubay Substation
--- --- --- 99.82 99.90 99.57
138/69 kV, 100 MVA
Source: TRANSCO

Figure 2: Annual Forced Outage Duration and

Times per User

80 67.9 62.9
60 56 55 52
40 27.4 28.99
ｊ 29 21.1
20 14.6
8.6 7.916
2.7 13 11
4 5
0
1998 1999 2000 2001 2002 2003 2004 2005 2006
Forced outage duration Forced outage times

Figure 2 shows the annual forced outage hours and frequency per user in Bohol Island.
After the completion of Stage I of the project (2001), power supply from the geothermal
power plant in Leyte Island to Bohol Island started. In Stage I (2001–2004), however, as
a 69-kV transmission line used wooden poles in Leyte Island, the outage hours and
frequency in Bohol Island temporary increased as these poles were damaged by natural
disasters such as typhoon. Since 2004, the outage hours and frequency have been
decreasing. The electricity supply to Bohol Island has been improved and stabilized
because iron pylons were implemented in 138-kV transmission lines in Leyte Island with
the completion of Stage II (2004).

6
 For this ex-post evaluation, evaluators conducted a beneficiary survey on the power
supply by interviewing companies located in Bohol Island. In the beneficiary survey, the
power supply situation was divided to three periods: “Before the completion of Stage I
(–2001)”, “After the completion of Stage I (2001–)”, and “After the completion of Stage
II (2004–)”. According to the results, the number of respondents who said outage
frequency has decreased and the voltage has been stabilized after the project was
implemented as shown in Figures 3–5, evidencing that the reliability of power supply has
improved.

図3 電力供給の信頼度
Figure 3: Reliability of Power Supply

100% 2
7
75%
41 60
50% 80
25% 44
37
0% 4 9
∼2001 2001∼ 2004∼
High Fair Low Very low No answer
高い 普通 低い 非常に低い 回答なし他

Source: TRANSCO

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 Figure図4 停電の頻度
4: Outage Frequency Figure 5: Voltage Stability
図5 電圧の安定度

100% 3 100% 3
9 14
75% 43 75%
52 57
50% 84
50% 77 79
25%
25% 38 54 37
3 12
0% 0
5 11
0%
∼2001 2001∼ 2004∼
∼2001 2001∼ 2004∼
Very stable
非常に安定している Stable
安定している Unstable
不安定である
殆どない 時々 頻繁 非常に頻繁 回答なし他 Very unstable
非常に不安定である No answer
回答なし他
Rare Sometimes Frequent Very No Answer
Frequent
Source: Beneficiary Survey

2.3.3 Supply for power demand in Bohol Island

The power supply4 to Bohol Island under the project is shown in Table 3 below. As of
one year from the project completion, the actual power supply from Leyte to Bohol (171.7
GWh for 2005) fell short of the volume estimated at the time of planning (254 GWh). The
actual power demand was weaker than predicted at the time of appraisal.5 However, if
69-kV transmission lines had been constructed, the transmission capacity would have
been insufficient and stable power supply to meet the present demand would not have
been realized. Therefore, the construction of 138-kV transmission lines is not considered
to be an overinvestment. According to the interview with the electric distributors in Bohol
Island, they can now adequately deal with the peak demand with the power supply from
Leyte Island, which was previously impossible. Also, restrictions on power usage which
were placed before the implementation of project have been eliminated. Thus, in Bohol
Island, power supply is sufficient to meet the demand.
As shown in Table 4 below, the total power supply in Bohol Island substantially
increased from 1995 before the project was implemented. Given that the volume of power
supply under this project accounts for approximately 80% of the total power supply (as of
2005), this project presumably plays an vital role in the supply of electric power in order
to meet the demand in Bohol Island.

Table 3: Net Electric Energy Production

(unit: GWh)

2004 2005 2006 (Jan.–Sep.)

Transformer at Ubay Substation 61.4 171.7 151.4

Source: TRANSCO

4
Power supply from the transformer (100 MVA) at Ubay Substation constructed under the project
5
Another reason is that several large-scale projects that were expected to be carried out at the time of
planning were not realized.

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 Table 4: Changes in Power Supply in Bohol Province
(unit: GWh)

1995 2001 2002 2003 2004 2005 2006

88 143.0 160.4 166.4 192.8 221.6 193.4

Source: TRANSCO, NPC

2.3.4 Financial Internal Rate of Return (FIRR)

For the calculation of FIRR of this project, the increase in the income from electric
power consignment was used as the benefit, the investment cost and operation and
maintenance expenses were used as the costs, and the project life was assumed to be 30
years. As a result, FIRR was calculated at 4.31%.

2.3.4 Recalculation of economic internal rate of return (EIRR)

EIRR was recalculated at 28.67% (at the time of appraisal it was 15%) based on the
cost of the project and the increase in the operation and maintenance expenses resulted
from the project as the total cost and the increase in electricity rates6 as the benefit,
assuming the project life is 30 years. The increase from the appraisal time is mainly
attributable to the increase in the consumers’ willingness to pay.

2.4 Impact
2.4.1 Contribution to economic
development Figure図6 域内成長率の推移
6: Changes in GDP and GRP
The gross domestic product (GDP)
8
of the Philippines has grown steady 6
at 5–6% since 2003. The gross 4
7
regional product of Central Visayas 2

where Bohol Province is located 0

2001 2002 2003 2004 2005
achieved a growth rate higher than
that of the Philippines’s GDP in 2004 Central Visayas
セントラルビサヤス Philippines
フィリピン（全国）

and 2005 consecutively (Figure 6).

Investment in Bohol Province has been increasing steadily since 2002 and the amount
of new employment has also been increasing substantially (Table 5). Since Bohol
Province gives importance to the promotion of eco-culture tourism and agro-industry, the

6
The electricity rates used for the calculation of EIRR are based on the willingness of users to pay.
7
Central Visayas consists of Negros Oriental, Cebu, Bohol, etc. As GRP data is not available only for Bohol
Province, the GRP data for Central Visayas was used.

9
number of passenger arrivals has been increasing steadily with the development of the
tourism industry in the province (Table 6). According to the interview to the Bohol
Provincial Government and Bohol Investment Promotion Center, this project was very
timely as the tourism boom began in 2001. According to an interview with a resort hotel,
stable power supply contributes to the stable operation of air-conditioners and other
electric equipments and results in the improvement of services for tourists. Thus, stable
power supply presumably supports the tourism boom by improving the business
environment in the tourism industry.

Table 5: Changes in Investment in Bohol Province

2002 2003 2004 2005 2006
Number of registered cases 1,497 2,300 3,342 4,531 5,422
Rate of increase from the
17.00% 53.64% 45.30% 35.58% 19.66%
previous year
Amount
1.129 1.796 2.331 2.971 4.045
(unit: billion pesos)
Rate of increase from the
8.20% 59.08% 29.79% 27.46% 36.15%
previous year
Number of newly employed
persons 1,497 2,300 3,342 4,531 5,422
(unit: person)
Rate of increase from the
5.56% 53.64% 45.30% 35.58% 19.66%
previous year
Source: Bohol Investment Promotion Center

Table 6: Passenger Arrivals in Bohol Province

(unit: thousand persons)

2000 2001 2002 2003 2004 2005 2006

85.4 95.3 132.9 247.8 313.5 393.9 415.5

Source: Bohol Tourism Office

As mentioned above, power consumption in Bohol Island as a whole increased

substantially. By user category (Table 7)8, power consumption in the commercial sector in
Tagbilaran, the capital of the province, increased 2.3 fold from that of pre-project period
was implemented. Also in other areas than Tagbilaran, the total power consumption of the
commercial and industrial sectors marked a 2.4-fold increase approximately. The power
supply under this project, which accounts for approximately 80% of the total power
supply in Bohol Island, plays a vital role in power supply of the island. Therefore, this
project presumably contributes to the improvement of the business environment in Bohol

8
Changes in power consumption by customer category of three distribution companies located in Bohol
Province

10
Island and support economic growth of the province by an increase in power supply of the
island. In the beneficiary survey, more than 70% of the surveyed companies answered that
the business conditions “substantially improved” or “improved” as a result of the project
(table 8), showing that the project contributes to the improvement of business
environment. For this project, the number of beneficiaries is estimated to be
approximately 960,000 9 , approximately 80% of the population of Bohol Island
(approximately 1.25 million).

Table 7: Changes in Power Consumption by User Category in Bohol

(unit: GWh)

Capital Tagbilaran Other areas than Tagbilaran

Index Index
1996 2005 1996 2005
1996 as 100 1996 as 100
10.8 25.8 25.8 67.1
Household 238.8 Household 260.0
(36%) (40%) (56%) (58%)
13.7 31.2 8.0 28.0
Commercial 227.7 Commercial 350.0
(45%) (48%) (18%) (24%) Total
5.7 7.3 8.5 11.2 237.5
Others 128.0 Industrial 131.7
(19%) (11%) (18%) (10%)
30.2 64.3 3.7 8.5
Total 212.9 Others 229.7
(100%) (100%) (8%) (7%)
Source: Government of Bohol Province 46.0 114.8
Total 249.5
(100%) (100%)
Source: Data by Bohol I Electric Cooperative, Inc.
and Bohol II Electric Cooperative, Inc.

Table 8: Contribution of the Project to the Improvement of Business Conditions

Rate

Substantially improved 24%

Improved 50%

Somewhat improved 22%

No impact 2%

No answer 2%

Source: Beneficiary Survey

2.4.2 Contribution to poverty reduction

The poverty rate in Bohol Province10 decreased sharply from 50.2% in 2000 to 29.2%
in 2003. In those three years, the poverty rate decreased by 21 percentage points,

9
Estimated from the volume of power supply under this project and power supply per capita in Bohol Island
10 The poverty line in Bohol Province (costs of food and other basic needs) was 9,762 pesos per capita
(2000) and 10,032 pesos per capita (2003). The national poverty line was 11,458 pesos (2000) and 12,309
pesos (2003).

11
achieving the second largest decrease in the country. It seems that various factors
contributed to poverty reduction in Bohol Province. The improvement of business
environment brought by this project is considered as one.

Table 9: Changes in Poverty Rate (national average and in Bohol Province)

2000 2003 Decrease

Bohol Province 50.2% 29.2% 21.0%

National Average 27.5% 24.4% 3.1%

Source: Philippine National Statistical Coordination Board

2.4.3 Others
2.4.3.1 Environmental Impact
Prior to the implementation of this project, an Environment Compliance Certificate
(ECC) has been obtained. During and after the implementation of project, monitoring was
conducted in compliance with the content of the ECC. In accordance with ECC,
TRANSCO paid 2.5 million pesos for forestation in alternate area (planting 48,000 tree
seedlings) in return of deforestation for the construction of transmission lines. Thus, the
requirements of the ECC are satisfied and no specific problem has been reported.
After the project was implemented, diesel power generation in Bohol Island
substantially decreased (Figure 7), indicating that the project helped reduce
environmental load in the island.

Figure 7: Operation of Diesel Power Generation1 ）

(unit: GWh)

120
100
80
60
40
20
0
1998 1999 2001 2002 2003 2004 2005 2006

Diesel Power Generation

ディーゼル発電量（GWｈ）

Source: TRANSCO
Note1): Data for 2000 is not available.

2.4.3.2 Land acquisition and resident relocation

For the implementation of project, land acquisition was carried out and monetary
compensation was provided to 382 households and 109 building owners. Procedures of
land acquisition and compensation follow the law.

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2.5 Sustainability
2.5.1 Executing agency
2.5.1.1 Technical capacity
TRANSCO regularly conducts in-house technical training. There are some exceptional
cases in which foreign manufactures are asked to deal with mechanical troubles. In
general, however, experienced employees performed the operation and maintenance of
the facilities of this project. Therefore, there seems to be no specific problems in
technical capacity.

2.5.1.2 Operation and maintenance system

In the Philippines, division and privatization of the power sector has been underway
since the Energy Power Industry Reform Act (EPIRA), which took effect in June 2001.
Under this act, transfer of the assets and liabilities of the National Power Corporation
(NPC), which had engaged in power generation and power transmission until that time, to
the Power Sector Assets and Liabilities Management Corporation (PSALM) has been in
progress since July 2001. The power transmission business is succeeded by TRANSCO
(established in 2001 and starting operation independently in March 2003), which is
affiliated with PSALM. Under EPIRA11, TRANSCO held several bids for the concession
contract (25 years) with private companies for the operation and management of the
power transmission business. However, no private company has been selected yet12.
As of 2005, TRANSCO had 3,630 employees. Operation and maintenance of the
facilities covered by this project are performed by Visayas Regional O&M, District 2 (40
technical staff) and District 3 (48 technical staff).

2.5.1.3 Financial status

The financial status of TRANSCO is shown in Table 10 and 11 below. In 2005, the
capital ratio exceeded 40%, which indicates an improvement in long-term financial
stability. The current ratio and quick ratio have been maintained at a level that would not
cause any problem in the payment of short-term debts. In conclusion, the financial status
of TRANSCO is healthy.

Table 10: Profit and Loss Statement Table 11: Financial Ratios of
of TRANSCO TRANSCO

11 EPIRA stipulated that TRANSCO shall be privatized through (1) sales, or (2) concession contract.
12 The latest bidding for TRANSCO’s concession contract was conducted in February 2007 and only one
company made a bid. Rebidding is planned, though the schedule has not been decided as of the time of this
survey (February 2007).

13
 (unit: million pesos)
2003 2004 2005 2003 2004 2005
Net Utility Net Income to Net
23,960 24,221 24,298 23.3 22.4 42.0
Income Worth Ratio (%)
Net Operating Current Ratio
15,452 15,145 16,217 1.83 2.09 2.01
Income (times)
Net Income 15,388 15,071 16,174 Quick Ratio (times) 1.02 0.88 1.04
Source: TRANSCO Annual Report Source: TRANSCO Annual Report

2.5.2 Operation and maintenance status

The facilities under this project are inspected regularly. During the site-survey, no
malfunction was found in the facilities. Stable power supply had been maintained. For
these reasons, there seem to be no specific maintenance problems.

3. Feedback
3.1 Lessons Learned
N.A.

3.2 Recommendations
N.A.

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Comparison of Original and Actual Scope

Item Plan Actual

(1) Outputs
1.Constructin of a submarine As planned (17 km, 138 kV)
cable (approx. 17 km, 138 kV)
between the south bank of
Leyte Island and the east bank
of Bohol Island

2. Construction of related Almost as planned (reduction

overhead transmission lines on in the length of 5 transmission
the both banks (approx. 153 lines, change from an
km, 138 kV; approx. 52 km, overhead transmission line
69 kV, etc.) [2.5 km] to a submarine cable
[1.5 km], etc.)

3. Construction of related Almost as planned

substation facilities on both (Outlets: 13 → 16; capacitors:
banks 6 units → 19 units)
(2) Project Period Mar. 1997–Apr. 2001 Mar. 1997–Aug. 2004
(49 months) (90 months)

Detailed design / bidding/ Nov. 1996–Oct. 1997 (I) Dec. 1997–Feb. 1999 (I)
signing of contract Sep. 1998–Apr. 1999 (II) Jan. 2001–Sep. 2002 (II)
(detailed design / bidding (detailed design / bidding
procedure) procedure)
Construction of
transmission and substation Nov. 1997–Apr. 2001 Jul. 1999–Jan. 2001 (I)
facilities Apr. 2003–May 2004 (II)

Consultanting services: Nov. 1996–Apr. 2001 Mar. 1997–Jun. 2004

Start of power supply Feb. 2001 (I)

Aug. 2004 (II)
(3) Project Cost
Foreign currency 8,086 million yen 7,698.85 million yen
Local currency 1,296 million yen 219.7 million yen
(324 million pesos) (98.96 million pesos)
Total 9,382 million yen 7,918.54 million yen
ODA loan portion 8,086 million yen 7,698.85 million yen
Exchange rate 1 peso ＝ 4 yen 1 peso ＝ 2.2 yen
(as of May 1996) (2000–2004 average)

15