TeaM Energy is one of the country’s largest independent power producers, supplying reliable, affordable and clean energy to fuel the nation’s economic growth.
Born at the height of an energy crisis that threatened to cripple the nation, TeaM Energy was one of the first foreign investors to respond to the government’s call for assistance to meet the country’s growing electricity demands.
In 1989, Hopewell Holdings, through its subsidiaries, built its first power station, Navotas I, followed by Navotas II in 1993. One of its subsidiaries, Consolidated Electric Power of Asia Limited (CEPA), completed the 735-megawatt Pagbilao Power Station in 1996. The following year, CEPA was acquired by the Southern Company and came to be known as Southern Energy Asia-Pacific Limited. In 1999, it opened the largest and most cost-effective coal-fired plant in the country: the 1,218-megawatt Sual Power Station.
In 2001, the Southern Company spun off Mirant Corporation and Southern Energy Asia-Pacific Limited came to be known as Mirant Asia-Pacific Limited. The latter, through Mirant Philippines, continued to operate the Pagbilao and Sual Power Stations, and began operating the Panay and Toledo power stations in the Visayas. It also acquired a stake in the natural gas facility in Ilijan, Batangas. Aklan, the last of Mirant’s power stations in the Philippines, broke ground in 2005.
In 2006, Mirant Philippines sold its interest in the Visayas region.
By 2007, the company was ready to embark on a new journey. Two of Japan’s largest and most formidable conglomerates – Tokyo Electric Power Company and Marubeni Corporation – teamed up to acquire interest in Mirant Philippines, which later became known as TeaM Energy Corporation.
Hopewell / Consolidated Electric Power Asia
Southern Energy Philippines