SPC Power
SPC Power Corporation is a Philippines-listed power generation company operating coal, diesel, and mobile generation assets across the Visayas region, selling electricity to NGCP via the WESM spot market and to industrial customers under bilateral contracts.
- Company typePublic
- Founded1998
- HeadquartersCebu City, Philippines
- Headcount251–500
- GTM typeB2B
- OfferingServices
What SPC Power does
SPC Power Corporation (PSE: SPC) is a publicly listed Philippine power generation company headquartered in Cebu City, operating a diversified fleet of electricity generation assets across the Visayas region. Originally incorporated in 1998 as Salcon Power Corporation, the company was renamed SPC Power Corporation and currently employs 251-500 staff. Its generation portfolio comprises five operating assets: the coal-fired KEPCO SPC Power Plant (KSPC) in Naga, Cebu operated as a joint venture with Korea Electric Power Corporation; the Panay Diesel Power Plant (PDPP) in Dingle, Iloilo; the Bohol Diesel Power Plant (BDPP) in Tagbilaran City; the Cebu Diesel Power Plant (CDPP) at NPPC, Naga; and Power Barge 104, a mobile barge-mounted diesel unit in Ubay, Bohol.
The company's technology stack is a multi-modal generation platform combining coal baseload, distributed diesel peaking capacity, and mobile barge-mounted units, with expanding investment in battery energy storage systems (BESS) and a 48-MW solar project in Iloilo that has received regulatory clearance. SPC Power is targeting 500 MW of renewable energy capacity additions by 2029. Its value proposition centers on providing dispatchable capacity and ancillary services that stabilize the Visayas grid, where yellow-alert events are recurrent.
SPC Power monetizes generation through three revenue streams: sales into the Wholesale Electricity Spot Market (WESM) operated by the Philippine Electricity Market Corporation on a usage-based/spot basis; bilateral power supply contracts with electric cooperatives and industrial customers on recurring terms; and ancillary services to the National Grid Corporation of the Philippines (NGCP) for grid stability. Pricing is not publicly disclosed and varies by dispatch schedule, contract terms, and ERC-regulated frameworks. Customers are concentrated in two segments: NGCP (primary, via WESM dispatch and ancillary services) and industrial/commercial customers (secondary, via bilateral contracts). The company's go-to-market is sales-led, engaging directly with grid operators and large enterprise off-takers in the Visayas region.
SPC Power firmographics
Firmographics- Name
- SPC Power
- Legal name
- SPC Power Corporation
- Website
- https://spcpowergroup.com
- Company type
- Public
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- SPC Power Corporation is a Philippines-listed power generation company operating coal, diesel, and mobile generation assets across the Visayas region, selling electricity to NGCP via the WESM spot market and to industrial customers under bilateral contracts.
- Ownership category
- akta.pro rank
SPC Power industry classification
Industry- Product category
- Power Generation Services
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Fossil Fuel Electric Power Generation (221112), Solar Electric Power Generation (221114)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)
- akta.pro secondary industry
- Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA)
Keywords
Where SPC Power is headquartered
LocationHeadquarters
- HQ city
- Cebu City
- HQ country
- Philippines
- HQ region
- Asia
Offices5 records
Markets served
SPC Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Others
Revenue model
- Wholesale Electricity Sales: Sale of electricity to the Wholesale Electricity Spot Market (WESM) operated by the Philippine Electricity Market Corporation. Revenue is generated based on dispatch schedules and spot market prices.
- Bilateral Power Supply Contracts: Long-term contracts with electric cooperatives, industrial customers, and utilities for dedicated power supply, providing predictable revenue streams.
- Ancillary Services: Provision of grid stability services through generation capacity to the Visayas transmission grid under NGCP requirements.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels2 records
SPC Power product offering
Product offeringCore offering
SPC Power Corporation generates and sells wholesale electricity through a diversified fleet of power plants across the Visayas region of the Philippines. Its assets include the coal-fired KEPCO SPC Power Plant (KSPC) joint venture in Cebu, diesel-fired plants in Panay, Bohol, and Cebu (PDPP, BDPP, CDPP), and a mobile barge-mounted unit (Power Barge 104). The company is expanding into battery energy storage and solar, targeting 500 MW of renewable capacity by 2029.
Product overview
SPC Power Corporation is a power generation company operating a diversified portfolio of electricity generation facilities across the Visayas region of the Philippines. The company's generating assets include five distinct power plants: the Panay Diesel Power Plant (PDPP) in Iloilo, Power Barge 104 in Bohol, the KEPCO SPC Power Plant (KSPC) coal-fired facility in Cebu (a joint venture with Korea Electric Power Corporation), the Bohol Diesel Power Plant (BDPP), and the Cebu Diesel Power Plant (CDPP). These assets generate electricity for the Visayas power grid. The company is publicly listed on the Philippine Stock Exchange and is expanding into renewable energy, including solar projects and battery energy storage systems (BESS), with plans to add 500 MW of renewable capacity by 2029.
Differentiator
Problem solved
Functional benefit
Brands
- PDPP: Panay Diesel Power Plant - located in Dingle, Iloilo
- KSPC
- BDPP
- CDPP
- Power Barge 104
Products and services
- Panay Diesel Power Plant (PDPP)
Quantifiable outcome
- 500 MW renewable energy capacity targeted by 2029
- +1 more outcomes
Companies that use SPC Power
Customer profileSegments2 records
Ideal customer profiles3 records
SPC Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
SPC Power partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Korea Electric Power Corporation (KEPCO)coreKEPCO SPC Power Corp is a joint venture operating the KSPC coal-fired power plant in Naga, Cebu. This partnership combines KEPCO's international power generation expertise with SPC Power's local market presence and operational capabilities in the Visayas region.
- IHI CorporationcoreSPC and IHI Corporation co-purchased STEAG GMBH's shares in STEAG State Power Inc. in 2022, demonstrating a strategic partnership for acquiring power generation assets in the Philippines.
- AC Energy (ACEN)minorSPC Power purchased Power Barge 102 from AC Energy (ACEN), indicating a transaction-based relationship for acquiring power generation assets.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
SPC Power competitors and assessment
Company assessmentRegional players
- Manila Electric Company (MERALCO): Largest Philippine electric distribution utility, purchasing generation from IPPs including SPC. Relevant for SPC because bilateral power supply agreements with MERALCO-style distribution utilities represent a meaningful revenue channel and a benchmark for distribution-side power demand growth in Luzon (geographically adjacent to SPC's Visayas footprint).
Direct peers
- First Gen Corporation: Philippine power generation company with a mix of geothermal, hydro, natural gas, and solar assets, selling through WESM and bilateral contracts. Comparable to SPC because it operates a diversified generation fleet targeting baseload and peaking segments while expanding renewables.
- Korea Electric Power Corporation (KEPCO): Korean state-owned utility and SPC's JV partner in the KEPCO SPC Power Plant (KSPC) in Naga, Cebu. Comparable to SPC because KEPCO's overseas generation arm targets similar coal/gas/renewable IPP investments in ASEAN, often through JV structures analogous to KSPC.
- Vivant Corporation: Mid-cap Philippine independent power producer with diesel, hydro, and rooftop solar assets. Closely comparable to SPC in scale and business model (multi-location diesel peaking + bilateral/WESM selling) and is similarly pursuing renewable expansion.
- ACEN Corporation (AC Energy): Listed Philippine renewable energy company (formerly AC Energy). Comparable to SPC because ACEN previously sold power generation assets (e.g., Power Barge 102) to SPC and competes directly for renewable buildout contracts and renewable portfolio standard compliance in the Philippines.
- SMC Global Power Holdings: The power generation arm of San Miguel Corporation, with a large Philippine coal, gas, and battery portfolio. Comparable to SPC because it sells into WESM under NGCP oversight and has both legacy thermal assets and a major BESS/renewables expansion programme.
- Aboitiz Power Corporation: One of the largest Philippine private power generators with a diversified portfolio across hydro, thermal, and renewables. Highly comparable to SPC because it sells through WESM and bilateral contracts to NGCP and is pursuing aggressive renewable expansion in similar Philippine geographies.
Others
- National Grid Corporation of the Philippines (NGCP): Sole Philippine transmission system operator and a major customer of SPC through ancillary services and grid-stability procurement. Included because SPC's critical interdependence with NGCP — including reliance on ERC-regulated compensation frameworks — makes NGCP the most structurally important counterparty, even though it is not a peer in the generation sense.
Broad incumbents
- Energy Development Corporation (EDC): Largest Philippine geothermal power generator with growing renewables exposure. Comparable to SPC as a diversified Philippine generator that earns WESM revenues and is diversifying its portfolio, though EDC skews to geothermal rather than coal/diesel.
- Philippine Power Sector Assets and Liabilities Management (PSALM): State-owned entity that holds and privatizes NPC generation assets across the Philippines, including Visayas-located plants. Operates generation assets under the same ERC/NGCP regulatory regime as SPC, making it relevant for comparable asset valuation and auction dynamics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
SPC Power social profiles
Digital presenceSPC Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
SPC Power leadership team
Management profileNumber of profiles
Profiles8 records
SPC Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
SPC Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SPC Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SPC Power
What does SPC Power do?
SPC Power Corporation generates and sells wholesale electricity through a diversified fleet of power plants across the Visayas region of the Philippines. Its assets include the coal-fired KEPCO SPC Power Plant (KSPC) joint venture in Cebu, diesel-fired plants in Panay, Bohol, and Cebu (PDPP, BDPP, CDPP), and a mobile barge-mounted unit (Power Barge 104). The company is expanding into battery energy storage and solar, targeting 500 MW of renewable capacity by 2029.
Is SPC Power a public or private company?
SPC Power is a public company. It is classified as public and is currently operating.
When was SPC Power founded?
SPC Power was founded in 1998. It employs 251 to 500 people.
Where is SPC Power based?
SPC Power is headquartered in Cebu City, Philippines, in the Asia region.
How does SPC Power make money?
Three revenue lines are on record. Wholesale Electricity Sales are the primary driver. The others are bilateral Power Supply Contracts and ancillary Services.
Who are SPC Power's main competitors?
Manila Electric Company (MERALCO) is listed as a regional player. Direct peers are First Gen Corporation, Korea Electric Power Corporation (KEPCO), Vivant Corporation, ACEN Corporation (AC Energy), SMC Global Power Holdings and Aboitiz Power Corporation. National Grid Corporation of the Philippines (NGCP) is listed as an others. Broad incumbents are Energy Development Corporation (EDC) and Philippine Power Sector Assets and Liabilities Management (PSALM).
Does SPC Power have an API?
No public API is recorded for SPC Power.
What industry is SPC Power in?
SPC Power's product category is Power Generation Services. Its primary akta.pro industry code is EUAMAFAK, Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance), with a secondary code of EUAEAAAA, Thermal Power Plant EPC (Gas/Coal/Oil). Its NAICS code is 2211 and its SIC code is 4911.