The Board of Directors (BOD) of TeaM Energy Corporation (TEC) recently elected Mr. Oscar S. Reyes to fill up the vacant seat in the company’s board effective June 1, 2019. The said directors are composed of nominees from the company’s owners, leading Japanese firms JERA and Marubeni, and independent Director, retired Chief Justice Artemio V. Panganiban.
John V. Alcordo, TeaM Energy Chairman and Chief Executive Officer (CEO) said that Reyes’ decades of experience in the energy industry will further boost the company’s position as a leading provider of reliable and cost-effective electricity. “With Mr. Reyes on board, we fortify our mission to be the nation’s growth partner by generating power that supports the country’s development. The addition of Mr. Reyes to our board will also push the development and execution of the company’s growth plans,” he points out.
Reyes was President and CEO of the Manila Electric Company from May 2012 to May 2019 and Senior Executive Vice President and Chief Operating Officer from July 2010 to May 2012. Prior to joining Meralco, he served from 1997 to 2001 as Country Chairman of the Shell Companies in the Philippines, and concurrently President of Pilipinas Shell Petroleum Corporation and Managing Director from 1997 to 2004 of Shell Philippines Exploration, operator of the Malampaya Deep Water Natural Gas Facilities for the Malampaya Consortium. He likewise served in the Boards of Directors of other leading companies from 1999 up to this time.
TeaM Energy is the single largest Japanese investment in the country with over 2,000 MW of installed generating capacity in Luzon. It operates two coal-fired power plants: the 735 MW Pagbilao Power Station in Quezon Province and the 1,200 MW Sual Power Station in Pangasinan. It also has a 50% stake in the 420 MW Pagbilao Unit 3 Power Project in Quezon, and a 20% stake in the Ilijan natural gas project in Batangas.